General Motors and GE Renewable Energy announced they have signed a Memorandum of Understanding to improve the availability of rare earth minerals – essential for electric vehicles and renewable energy equipment.
The two companies are set to collaborate on improving access to heavy and light rare earth materials and magnets, copper, and electrical steel. The initial focus of this cooperation is creating a North America- and Europe-based supply chain for the metal alloys and finished magnets made of rare earth materials, which are critical components in electric motors for EVs and renewable power generators.
According to the announcement, both the two companies, their respective suppliers, and other co-sourcing partners will use this supply chain in the future. The two companies will also work together to establish other supply chains for EV manufacturing and renewable power generation, such as copper and eSteel.
“A secure, sustainable and resilient local supply chain for electric vehicle materials is critical to the execution of GM’s vision of an all-electric future,” says Shilpan Amin, GM vice president for Global Purchasing and Supply Chain.
“Motors are one of the most important components of our Ultium Platform,” continues Amin, “and the heavy and light rare earth materials are an essential ingredient in our motor magnets. The combined scale of GM and GE will enable us to unlock the potential for securing low-carbon-footprint, ESG-friendly, secure and cost-competitive materials.”
As a part of the agreement, the two companies will also look to collaborate to support the development of new technologies and processes for both automotive and renewable power generation applications.
“Working with GM gives us another tool to obtain a reliable, sustainable, and competitive source of key materials going forward that will help us lower the cost of renewable energy and drive more electrification by making EVs a more viable option for consumers,” says GE Renewable Energy Chief Technology Officer Danielle Merfeld.
“We are excited to partner with GM to explore opportunities to develop critical supply chains in the U.S. and further reduce CO2 emissions.”
GM and its partners are also set to lobby for policies supportive of a secure North American- and Europe-based supply chain for rare earth, copper and electrical steel materials. Whether they will be successful, remains to be seen.
General Motors has been busy in the EV world recently, which has announced new partnerships for its silicon carbide technology and BrightDrop software platform within one week.
Keyword: GM and GE Renewable Energy Set to Collaborate on Rare Earth Mineral Supply Chain