New US magnet factory to supply GM’s electric vehicle production

Date Published12/15/2021
Mentions specific company case(s) of reshoring, kept from offshoring, or transplantYes

Additional Reshoring Information:

Company/Division name Vacuumschmelze GmbH & Co. KG
Parent companyVacuumschmelze GmbH & Co. KG
Type of work Manufacturing
Reshoring category:Foreign Direct Investment
What product(s) and/or service(s) were outsourced domestically?Manufacturing
Year reshoring announced:2021
Year reshoring implemented or to be implemented:2024
Country(ies) from which reshored:Germany
If relevant, work nearshored to:-
Industry(ies):Electrical Equipment, Appliances & Components
Product(s) reshoredadvanced magnetic materials, permanent magnet
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