GM(US:GM) Prnewswire·2025-08-06 12:00Group 1 - Noveon Magnetics has entered a multi-year supply agreement with General Motors to deliver rare earth magnets for various vehicle components, marking a significant step towards a resilient domestic supply chain for American automotive manufacturing [1][2] - The agreement will support GM's full-size SUVs and trucks, enhancing the supply chain's resilience while promoting American jobs and economic security [2][3] - Noveon is the only operational manufacturer of sintered NdFeB rare earth magnets in the U.S., providing a fully domestic and vertically integrated solution for critical magnet supply [3][5] Group 2 - Noveon's EcoFlux™ magnets are designed for greater resource efficiency and the use of recycled materials, delivering high-performance products that meet commercial demand [5] - The demand for Noveon's products is increasing across various sectors, including automotive, defense, energy, and industrial, prompting the company to scale its capacity [4] - General Motors is focused on leveraging advanced technology to build safer and lower-emission vehicles, including a wide range of electric vehicles, as part of its transition to an all-electric future [6]