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mp materials
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 David Seeley |
Jul 11, 2023
Through a long-term agreement with General Motors, MP Materials is bringing its MP Magnets division to AllianceTexas in Fort Worth. The company is building a new, 200,000-square-foot rare earth magnetics and materials manufacturing facility which will "re-shore" critical components for America's EV batteries, robots, drones, defense systems, and other tech.
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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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![MP’s new magnetics facility in Fort Worth's AllianceTexas development will source materials from Mountain Pass, California and aims to help restore a fully integrated U.S. supply chain. [Rendering: MP Materials]](https://s24806.pcdn.co/wp-content/uploads/2021/12/MP-Materials-Fort-Worth-Magnet-Manufacturing-Facility-360x203.jpg)
by Quincy Preston |
Dec 9, 2021
The new magnet manufacturing facility will be the headquarters for MP Magnetics, the company's growing magnetics division.
Production at the new facility could ultimately power 500,000 EV motors each year. MP, which entered a long-term supply agreement with General Motors for rare earth materials and parts, says manufacturing could begin in 2023.
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