MP Materials has an ambitious US rare earth supply chain strategy to fuel EV innovation
Charged EVs
MARCH 11, 2024
Permanent magnet motors are dominant in the EV industry, due to their superior efficiency. The majority of EV traction motors use rare earth magnets. What’s more, the company is developing a facility in Fort Worth, Texas where it plans to manufacture alloys and magnets from Mountain Pass materials. And it has customers.
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