Sourcing Renewables - October 12, 2021
GM and GE Team Up on EV and RE Production Supply Chains
General Motors and GE Renewable Energy announced Oct. 6 a new partnership to grow the supply chain of heavy and light rare earth and other materials used for manufacturing electric vehicles and renewable energy equipment.
The two companies signed a memorandum of understanding establishing a project to create a North America- and Europe-based supply chain of vertically integrated magnet manufacturing. Other materials included in the supply chain development are copper and electrical steel, both of which are crucial for EV production.
GM and GE Renewable Energy also agreed to seek ways to collaborate on the development of new technologies for automotive and renewable power generation applications.
“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,” Shilpan Amin, GM vice president for Global Purchasing and Supply Chain, said in a statement. “Motors are one of the most important components of our Ultium Platform, 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.”