article thumbnail

GM and Glencore enter multi-year cobalt supply agreement

Green Car Congress

Glencore and General Motors announced a multi-year sourcing agreement in which Glencore will supply GM with cobalt from its Murrin Murrin operation in Australia. The company will then expand into magnet manufacturing around 2025 at its new production facility in Fort Worth, Texas.

GM 459
article thumbnail

GM and MP Materials enter long-term supply agreement to scale rare earth magnet sourcing and production in US

Green Car Congress

General Motors and MP Materials ( earlier post ) have formed a strategic collaboration to develop a fully integrated US supply chain for rare earth magnets. MP Materials produced approximately 15% of the rare earth content consumed in the global market in 2020.

GM 221
article thumbnail

US DOD awards MP Materials $35M heavy rare earth processing contract

Green Car Congress

In addition to its mining and processing operation at Mountain Pass, MP Materials is developing a rare earth metal, alloy and magnet manufacturing facility in Fort Worth, Texas. Earlier post.).

article thumbnail

GM makes its largest green energy purchase to date; 50 MW wind deal

Green Car Congress

General Motors has made its largest renewable energy procurement to date, purchasing enough wind power to equal the electricity needs of 16 of its US facilities, including business offices in Fort Worth and Austin, Texas, a major assembly and stamping complex in Arlington, Texas, and 13 parts warehouses east of the Mississippi River.

Wind 150
article thumbnail

New “50 by 50” Commission seeks to halve US transportation energy use by 2050

Green Car Congress

Betsy Price, Mayor of Fort Worth, Texas; Gil Quiniones, President & CEO, New York Power Authority; Rhea Suh, President, Natural Resources Defense Council; Dan Turton, Vice President, North America Public Policy, General Motors; Greg White, Executive Director, National Association of Regulatory Utility Commissioners; and.

article thumbnail

Rivian seeks $80B valuation in confidential IPO filing

Teslarati

Sources also stated that Rivian would seek an $80 billion valuation, which would make it the sixth-most valuable car company in the world, displacing General Motors with a valuation of $72.22 Rivian will be the first company to bring an all-electric pickup truck to the market when it begins deliveries next month. Photo: Rivian).