Neo Performance Clinches Key European EV Supply Contract

Neo Performance Materials Inc (TSE:NEO) has released an update.

Neo Performance Materials Inc. has secured a pivotal contract to supply a major European EV traction motor manufacturer with sintered rare earth magnets, utilizing 35% of their new European facility’s Phase I capacity. This facility, the first of its kind outside Asia, aligns with Neo’s strategy to meet the demand for localized supply chains in the EV industry, with production expected to ramp up from 2026 through 2033.

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