The U.S. Department of Defense invested $400 million in MP Materials to challenge China's dominance in rare earth magnets, securing a 15% stake and a 10-year supply agreement. MP Materials is already producing rare earth magnets for General Motors at its Texas facility, marking the first U.S.-made supply for GM's electric vehicles. The Pentagon's investment supports expansion projects in California and a new magnet plant expected by 2028, aiming to secure a fully integrated domestic supply chain. This move reduces U.S. reliance on China for critical materials and could reshape the rare earth market over the next decade.
MP Materials shares trade at USD 47.11 on Pluang as of Oct 05, 2026 17:23 WIB, showing a modest 0.30% gain for the day. General Motors stock is priced at USD 78.18 with a slight decline of 0.11% on the same date. MP's market cap stands at $8.37 billion, reflecting solid investor interest amid its strategic role in rare earth magnet production for GM.
