Construction has been completed on a new rare-earth magnet manufacturing facility in Sumter County, South Carolina, marking a significant addition to U.S. efforts to expand domestic production of materials used in electric vehicles, renewable energy systems, and defense technologies.
The plant, operated by eVAC Magnetics LLC, is designed to produce neodymium-iron-boron and samarium-cobalt permanent magnets. The facility received federal support through a $111.9 million Qualified Advanced Energy Project Tax Credit and a Defense Production Act Title III grant.
The project expands U.S. manufacturing capacity for rare-earth magnets. Asia, especially China, currently supplies most of the global market. The Sumter County site will employ about 300 full-time workers. It will begin commercial production in early 2026.
eVAC Magnetics is part of Vacuumschmelze GmbH & Co. KG (VAC Group), a Germany-based producer of magnetic materials with facilities in Europe. The South Carolina operation will serve industrial and defense markets in North America.
Supply of high-purity rare-earth oxides
On November 3, 2025, Ucore Rare Metals Inc. signed an agreement with VAC and eVAC Magnetics. The deal strengthens North America’s rare-earth supply chain. The companies will connect Ucore’s refining sites in Louisiana and Ontario with eVAC’s magnet plant in South Carolina. Ucore will supply high-purity rare-earth oxides. eVAC will use them to produce permanent magnets for industrial and defense markets.
The partnership builds a regional production network and reduces reliance on Asian imports. It supports demand from electric vehicles and renewable energy systems. Executives say the plan creates one of the few closed-loop supply chains in North America.
Completion of the South Carolina facility adds momentum to U.S. efforts to expand critical-mineral production. Public and private investments continue to boost domestic refining and manufacturing capacity. Together, they reflect the nation’s shift toward electrification and cleaner energy technologies.
Vulcan Elements recently announced a $1.4 billion partnership with the U.S. Government and ReElement Technologies to expand a fully domestic rare earth magnet supply chain, and on November 17, the company revealed plans to build a $918.1 million rare earth magnet factory in Benson, North Carolina.
The United States is moving to reclaim leadership across strategic industries—from rare-earth magnet production to nuclear energy and advanced manufacturing—strengthening its position in global technology and supply chains.
Factsheet: South Carolina Rare-Earth Magnet Plant
Location: Sumter County, South Carolina
Operator: eVAC Magnetics LLC (VAC Group)
Partners: Ucore Rare Metals Inc. (Canada) and Vacuumschmelze GmbH & Co. KG (Germany)
Federal Support: $111.9 million energy tax credit; Defense Production Act grant
Jobs: Approx. 300
Operational Date: Early 2026
Products: NdFeB and SmCo permanent magnets
Does this rare earth company have stock at this time? If so please provide the stock ticker. Thanks.