MP Materials Starts First Non-Chinese Rare Earth Magnet Deliveries to GM

Key Facts

1MP Materials is set to deliver General Motors' first rare earth magnets produced outside of China.

2The Pentagon invested $400 million to support efforts in breaking China's monopoly on rare earth elements.

MP Materials is set to deliver General Motors' first rare earth magnets produced outside of China. According to 247wallst.com, this delivery marks a significant milestone in breaking China's monopoly on rare earth elements, supported by a $400 million investment from the US Department of Defense.

MP shares closed at $46.97 on October 2, 2026, while GM closed at $78.27 on the same date. The Pentagon-backed initiative aims to establish a domestic supply chain for critical components used in electric vehicles and defense applications, reducing long-standing reliance on foreign suppliers.