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James Litinsky
MP Materials has received a $58.5 million award to advance its construction of America’s first fully-integrated rare earth magnet manufacturing facility, pictured in October 2023, Fort Worth, Texas [Photo: Business Wire]
Over $58M Awarded to Advance Fort Worth Rare Earth Magnet Manufacturing Plant
by David Seeley | Apr 1, 2024
Las Vegas-based MP Materials—which began building the plant in 2022 at Hillwood's AllianceTexas—plans to produce ""precursor materials" at the facility this summer, and "finished magnets" by late 2025. The critically needed products will be delivered to General Motors to power EVs—and help "bring the supply chain home" to the U.S.
by Quincy Preston and Sandra Engelland |
Apr 21, 2022
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.
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.
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