GE Renewable Energy and General Motors to develop rare earth metals supply chain

GE Renewable Energy and US automotive giant General Motors (GM) are to develop a supply chain of rare earth metals and other materials to support their respective businesses.

They have signed a non-binding memorandum of understanding (MoU) to evaluate the opportunities to improve supplies of heavy and light rare earth metals, as well as magnets, copper and electrical steel. The former are key components in wind turbine generators and vehicle batteries, while the latter can be used for cabling and generators.

The two companies plan to source rare earth metals from EU and US suppliers, to support the development of a supply chain for vertically integrated magnet manufacturing. They also plan to collaborate on supply chains for materials such as copper and electrical steel.

Demand for critical minerals such as rare earth metals and copper may outstrip availability as the energy transition accelerates, the International Energy Agency has warned. It added that this could lead to price volatility and supply chain disruption.

GE Renewable Energy’s chief technology officer, Danielle Merfeld, said: “Working with GM gives us another tool to obtain reliable, sustainable and competitive sources of key materials going forward that will help us lower the cost of renewable energy and drive more electrification by making electric vehicles a more viable option for consumers.”

GM and GE Renewable Energy will also look at working together to develop new technologies and manufacturing processes for their respective sectors.