EV Suppliers

Noveon Magnetics, Inc. is a pioneering U.S. magnet manufacturer specializing in recycled rare-earth magnets. Originally founded as Urban Mining Co. in 2014, Noveon uses a patented “magnet-to-magnet” recycling process to produce high-performance NdFeB magnets from end-of-life materials. This eco-friendly approach yields magnets with top-tier properties while using 90% less energy than traditional methods. Noveon’s EcoFlux™ magnets are heavy rare earth-free, offering a sustainable, cost-effective option for EV motors, wind turbines, and industrial robots. With its new Texas facility, Noveon is scaling up production (including a five-year, 1,000+ ton magnet supply agreement with Nidec Motor) to serve automotive and clean energy markets. Backed by advanced R&D and an experienced team, Noveon delivers magnets with lower environmental impact and reliable performance. The company is positioned as a domestic, closed-loop magnet supplier, reducing supply chain risk and supporting a greener future.

MP Materials Corp. is America’s only fully integrated rare earth supplier, spanning mining, refining, and magnet manufacturing. Founded in 2017, MP controls the Mountain Pass mine in California and a state-of-the-art magnet factory in Texas, enabling end-to-end production of NdFeB magnets for EVs, wind turbines, robotics, and defense. In 2025, MP produced its first neodymium magnet prototypes and is ramping toward high-volume output of ~1,000 tons per year. Backed by a strategic supply agreement with General Motors, MP is restoring a domestic magnet supply chain with world-class technology and a commitment to sustainability. Customers benefit from a secure U.S. source of rare earth materials and magnets, with comprehensive capabilities from raw material to finished magnet. MP’s mission is to provide innovative, American-made magnetics solutions that reduce reliance on foreign sources.