Noveon Magnetics To Supply Rare Earth Magnets To GM

(RTTNews) - Noveon Magnetics, Wednesday announced a multi-year supply agreement with General Motors (GM) to deliver rare earth magnets to support GM's full-size SUVs and trucks.

Notably, Noveon began delivering magnets to the automaker in July 2025.

"Working with domestic manufacturers like Noveon allows us to increase the resiliency of our supply chain while supporting American jobs and strengthening our industry and economic security," said Jeff Morrison, General Motors global chief procurement officer.

Currently, GM is trading at $52.85, up 0.52 percent on the New York Stock Exchange.