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Apple expands U.S. supply chain with $500 million commitment to American rare earth magnets
Today Apple announced a new investment of $500 million with MP Materials.
In a multiyear deal, Apple has committed $500 million to buying American-made rare earth magnets developed at MP Materials’ flagship Independence facility in Fort Worth, Texas. The commitment is part of Apple’s pledge to spend more than $500 billion in the U.S. over the next four years, and builds on the company’s long history of investment in American innovation, advanced manufacturing, and next-generation recycling technologies. The commitment is part of Apple’s pledge to spend more than $500 billion in the U.S. over the next four years, and builds on the company’s long history of investment in American innovation, advanced manufacturing, and next-generation recycling technologies.
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