Company Working With General Motors Building Magnet Factory In Fort Worth

CBS Dallas/Fort Worth

December 15, 2021

MP Materials is preparing to build it’s first rare earth metal, alloy and magnet manufacturing facility in Fort Worth.

The company has entered an agreement with General Motors, which has a plant in Arlington, to supply U.S.-sourced and manufactured rare earth materials, alloy and finished magnets for the electric motors in more than a dozen automobile models beginning in 2023.

In Fort Worth, MP Materials will develop a 200,000 square-foot greenfield metal, alloy and neodymium-iron-boron (NdFeB) magnet manufacturing facility, which will also serve as the business and engineering headquarters for magnetics division.

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