General Motors said it is partnering with a General Electric division to develop a supply chain of rare earth and other materials used in the manufacturing of EVs and renewable energy equipment.
The collaboration with GE Renewable Energy will create a supply chain based in North America and Europe and evaluate ways to improve supplies of heavy and light rare earth materials and magnets, copper and electrical steel, GM said in a statement Wednesday.
Metal alloys and finished magnets produced from rare earth materials are critical parts used in manufacturing electric motors for automotive and renewable power generation.
