Canada-based NEO Performance Materials has shipped sintered magnet samples to a Tier 1 EV traction motor customer from its new permanent magnet facility in Narva, Estonia.
NEO has produced 18,000 assembled magnet pieces as part of the initial production samples. The magnets are EV traction motor grade and mark a step forward in Neo’s strategy to provide high-performance materials for the EV market.
The magnet samples will be assembled into traction motors for performance testing by the Tier 1 customer and OEM. Production part approval process (PPAP) products are scheduled for the first half of 2026 and mass production is expected to follow later next year.
The new Narva facility is strategically located near NEO’s rare earth separation facility in Sillamäe, Estonia, which is expected to allow for vertical integration of operations and efficient production processes in the future.
The facility is projected to have an initial production capacity of 2,000 metric tonnes annually and the company plans to scale up to 5,000 metric tonnes annually. The $75-million facility is supported by a grant of up to €18.7 million from the EU’s Just Transition Fund and a $50-million credit facility from Export Development Canada. Construction is due to be completed this year.
“We are excited to announce this major milestone at our European magnet facility. Delivering the first product from a new facility is a momentous occasion. We take pride in our team’s dedication and hard work in winning the award, completing construction on time and on budget, and successfully transitioning the facility into operational mode,” said NEO’s CEO, Rahim Suleman.
Source: NEO Performance Materials
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