EVsElectriveabout 2 hours ago
GM Terminates Magnet Supply Contract
2 min read
General Motors terminated its long-term supply contract with Vacuumschmelze in April 2026, ending a deal signed in early 2023 for rare-earth magnets. The agreement covered ten years of supply for electric vehicles starting in 2025, including the Chevrolet Silverado EV and Cadillac Lyriq.
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