Ross Perot Jr., chairman of The Perot Group, and MP Materials co-founder and CEO James Litinsky at the 2022 groundbreaking for MP's new rare earth magnet factory at AllianceTexas in Fort Worth. [Photo: MP Materials]
Through a long-term agreement with General Motors, MP Materials is bringing its MP Magnets division to AllianceTexas and today began building a new, 200,000-square-foot rare earth magnetics and materials manufacturing facility.
The goal: Reshore this critical component for America's EV batteries, robots, drones, defense systems, and other tech. “We’ll bring the supply chain home,” MP's CEO promised today.