General Motors, GE Renewable Energy sign MoU for supplies of rare earth materials

GM and GE Renewable Energy will initially focus on creating a North America- and Europe-based supply chain of vertically integrated magnet manufacturing that both companies can use in the future

American vehicle manufacturer General Motors (GM) has signed a non-binding Memorandum of Understanding (MoU) with GE Renewable Energy to secure supplies of heavy and light rare earth materials and magnets, copper and electrical steel that are used for manufacturing of electric vehicles and renewable energy equipment, the company announced on 6 October.