powering about 500,000 EV motors per year. “GM has been clear that they want to be a leader in developing EV supply chains in North America,” Sloustcher said. “We want to be a leader in bringing the rare magnetic supply chain home. So there was a lot of alignment from a business standpoint and a value standpoint.” Sloustcher said the part- nership with GM represents another aspect of what MP Materials is trying to do—cre- ate its products “in the most environmentally sustainable way possible.” “When you think about these magnets, they’re used across life, but they’re essen- tial to ... all of these technolo- gies that are helping address CO2 emissions,” Sloustcher said. “So we believe it’s essential that the materials that enable those products are produced responsibly.”
POWERING THE ELECTRIC VEHICLE As part of its new magnetics manufacturing facility coming to Alliance, MP Materials partnered with General Motors to supply U.S.-sourced and manufactured rare earth materials, alloy and finished magnets for the electric motors in more than a dozen models. In addition to the motors, the magnets can be used in other parts of an electric vehicle.
Cooling, water and oil pumps
Power folding side mirrors
Steering wheel motors
SOURCE: MP MATERIALS/COMMUNITY IMPACT NEWSPAPER
Materials. The agreement calls for MP Materials to invest $40 million in construction at the site by Dec. 31, 2023, and bring an additional $60 million in business personal property to the project. The agreement requires the com- pany to create at least 30 full- time jobs at the start with an average annual salary of over $80,000 and at least 90 jobs at full operation, according to city documents. The tax abatement for real property and business per- sonal property at the site
global purchasing and supply chain, said in the release that GM will use products from the upcoming Fort Worth facility in the GMC Hummer EV, Cadillac Lyriq, Chevro- let Silverado EV and over a dozen more electric models. “The new MP Materials magnetics facility in Fort Worth, Texas, will play a key role in GM’s journey to build a secure, scalable and sus- tainable EV supply chain,” Coomer said in the release. According to the release, MP Materials’ Fort Worth facility will produce magnets
is capped at $2.76 million, per the agreement. The city of Fort Worth is expected to earn $1.8 million in ad valorem taxes from the proj- ect over those seven years. In addition, Tarrant County commissioners were briefed on a potential tax abatement agreement with MP Mate- rials at its May 10 meeting. The proposal calls for a sev- en-year tax abatement from the county totaling $801,500. However, it is unclear when the commissioners would vote on the agreement. “MP aims to make a
positive contribution to the communities where we live and we work, and we are hopeful this facility will do that,” Sloustcher said. General Motors partnership As part of the move to open a magnet manufactur- ing facility in Fort Worth, MP Materials is partnering with General Motors to pro- duce alloy and magnets for its electric vehicle programs, according to the April 21 press release. Anirvan Coomer, executive director of General Motors
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