General Motors, General Electric to Explore Developing Supply Chain of Rare Earth
06 October 2021 - 11:30PM
Dow Jones News
By Dave Sebastian
General Motors Co. and General Electric Co.'s renewable-energy
business said they have signed a memorandum of understanding to
develop a supply chain of rare earth and other materials needed for
electric vehicles and renewable power generation.
GM and GE Renewable Energy on Wednesday said they are looking at
opportunities to improve supplies of heavy and light rare-earth
materials and magnets, copper and electrical steel used for
manufacturing electric vehicles and renewable-energy equipment.
The companies said they will initially focus on creating a North
America- and Europe-based supply chain of magnet manufacturing that
both companies, their suppliers and other co-sourcing partners will
use down the road. The manufacturing of electric motors for
automotive and renewable power generation involves metal alloys and
finished magnets produced from rare-earth materials, they said.
The companies said they will also work to set up supply chains
for additional materials, such as copper, that are used in
automotive-traction motors and renewable power generation. They
said they will evaluate potential cooperation to support the
development of technologies and processes for automotice and
renewable power generation applications.
GM and GE Renewable Energy said they will collaborate on public
policy to seek policies that support the establishment of North
American- and European-based supply chains for rare earth, copper
and electrical steel materials.
Write to Dave Sebastian at dave.sebastian@wsj.com
(END) Dow Jones Newswires
October 06, 2021 08:15 ET (12:15 GMT)
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