Electrical drivetrain expertise producer Schaeffler has signed a five-year contract to buy uncommon earth metals from REEtec with a purpose to manufacture everlasting magnets for the motors in hybrid modules, hybrid transmissions and e-axles. The contract is scheduled to start in 2024.
“In REEtec, Schaeffler has gained a extremely revolutionary companion that makes use of a novel and particularly sustainable course of for the manufacturing of pure uncommon earth parts,” says Schaeffler COO Andreas Schick. “Schaeffler is specializing in reaching sustainability alongside all the worth chain and is systematically gearing its actions to using supplies produced cleanly and sustainably. By means of this partnership, we’re additionally securing our provide of neodymium iron boron magnets for electrical motors.”
REEtec is a Norwegian manufacturing firm that has been utilizing a proprietary expertise to separate uncommon earths on an industrial scale since 2019. “This partnership will complement our overarching gross sales technique and permit us to construct our industrial facility for the separation of uncommon earths in Norway,” mentioned REEtec CEO Sigve Sporstøl. The brand new plant will course of uncommon earth carbonates produced by Very important Metals in Canada.
Schaeffler says its sustainable provide chain targets embody lowering the emissions of preliminary merchandise and uncooked supplies within the provide chain by 25% by 2030, and reaching carbon neutrality by 2040.
Supply: Schaeffler
