- In April 2024, Noveon Magnetics Inc., a San Marcos-based recycler and manufacturer of rare earth magnets, has secured a five-year contract with Nidec Motor Corp. to deliver 1,000 tons of magnets that will be used in Nidec's industrial automation and defense sectors.
- In March 2024, MP Materials is advancing output at its Stage II processing facility and aims to start commercial magnet production at its Fort Worth facility by late 2025, with General Motors already securing a supply deal for its EVs.
- In February 2024, USA Rare Earth announced the commencement of its new rare-earth permanent magnet manufacturing plant in Oklahoma, aimed at strengthening domestic production and meeting growing local demand.
- In October 2023, Hitachi Metals introduced a new line of high-performance NdFeB magnets aimed at the electric vehicle and renewable energy sectors. This product line offers improved energy density and performance, meeting the growing demands of these industries.
