Company Working With General Motors Building Magnet Factory In Fort Worth

TARRANT COUNTY (CBSDFW.COM) — MP Materials is preparing to build it's first rare earth metal, alloy and magnet manufacturing facility in Fort Worth.

The company has entered an agreement with General Motors, which has a plant in Arlington, to supply U.S.-sourced and manufactured rare earth materials, alloy and finished magnets for the electric motors in more than a dozen automobile models beginning in 2023.

In Fort Worth, MP Materials will develop a 200,000 square-foot greenfield metal, alloy and neodymium-iron-boron (NdFeB) magnet manufacturing facility, which will also serve as the business and engineering headquarters for magnetics division.

NdFeB permanent magnets are critical inputs to the electric motors and generators that enable electric vehicles, robots, wind turbines, drones, defense systems and other technologies to transform electricity into motion and motion into electricity.

Officials with MP say the facility will create more than 100 jobs and the site that will be located in the Alliance Airport area in far North Fort Worth.

Like semiconductors. NdFeB magnets are fundamental building blocks in modern technologies and are expected to increase in importance as the global economy electrifies and decarbonizes.