GM, General Electric to develop supply chain of rare earth materials for EVs

General Motors is partnering with a General Electric division to develop a supply chain of rare earth and other materials used in the manufacturing of electric vehicles and renewable energy equipment, the automaker said on Wednesday

The collaboration with GE Renewable Energy will create a supply chain based in North America and Europe and evaluate ways to improve supplies of heavy and light rare earth materials and magnets, copper and electrical steel, GM said.

Metal alloys and finished magnets produced from rare earth materials are critical parts used in manufacturing electric motors for automotive and renewable power generation.