YSM kicks off construction of magnets project in Fushan
2025-03-04 16:19:35 [Print]
Yantai Dongxing Magnetic Materials Inc. (YSM) broke ground on its high-performance magnetic materials project in Fushan District. With a total investment of 3 billion yuan (412 US dollars), the project focuses on the production of advanced, lightweight rare earth magnetic materials and the green recycling of NdFeB waste.
These high-performance materials play a crucial role in emerging industries, particularly in new energy vehicle motors and permanent magnet direct-drive wind turbines. YSM has already established strategic partnerships with leading domestic and international enterprises, including Volkswagen, Honda, NIO, and Weichai.
Once completed, the facility will become the largest independent single-site factory of its kind in China, with an annual production capacity sufficient to support 3.5 million new energy vehicles. This landmark project is expected to significantly strengthen Yantai City's position in the new energy automobile industry, driving industrial growth and technological innovation.
These high-performance materials play a crucial role in emerging industries, particularly in new energy vehicle motors and permanent magnet direct-drive wind turbines. YSM has already established strategic partnerships with leading domestic and international enterprises, including Volkswagen, Honda, NIO, and Weichai.
Once completed, the facility will become the largest independent single-site factory of its kind in China, with an annual production capacity sufficient to support 3.5 million new energy vehicles. This landmark project is expected to significantly strengthen Yantai City's position in the new energy automobile industry, driving industrial growth and technological innovation.
Neodymium Oxide 99.5%min EXW China
Unit:RMB/mt
China's praseodymium-neodymium oxide producers' number MoM output increase statistics by province by month
Unit: pcs
