e-VAC to build rare earth permanent magnet manufacturing plant in South Carolina

March 14, 2024
The company will invest more than $500 million into the project, creating 300 new jobs in the process.

e-VAC Magnetics has announced plans to open its first U.S. facility in Sumter County, South Carolina. The company, which specializes in manufacturing rare earth permanent magnets, will invest more than $500 million into the project, creating 300 new jobs in the process. e-VAC, which is a part of the VAC Group (VAC), focuses on producing rare earth neodymium-iron-boron (NdFeB) magnets, an essential component of many industries, including automotive, defense, industrial, and renewable energy. The new plant, located on 85 acres of land, will produce permanent magnets for electric vehicles and defense applications. Operations at the new facility are expected to begin in 2025. e-VAC will receive job development credits from the S.C. Coordinating Council for Economic Development, which also awarded a $13 million Rural Infrastructure Fund grant to Sumter County to help with the project.

In a recent quote, VAC Group Chief Executive Officer Dr. Erik Eschen said, “e-VAC is grateful for the support of the State of South Carolina, Governor Henry McMaster, Senator Lindsey Graham, and Representatives Jim Clyburn and Ralph Norman. We are excited to become a member of the Sumter County community. This project represents a significant commitment by VAC to re-shore critical process and product technology, creating good paying and highly skilled jobs for residents of the community. With this support, we will directly contribute to U.S. energy independence and national security."

Investing in American Manufacturing - 2024

This map shows where manufacturers are choosing to invest their resources, whether they are building new production facilities or expanding existing plants.

About the Author

Alexis Gajewski | Senior Content Strategist

Alexis Gajewski has over 15 years of experience in the maintenance, reliability, operations, and manufacturing space. She joined Plant Services in 2008 and works to bring readers the news, insight, and information they need to make the right decisions for their plants. Alexis also authors “The Lighter Side of Manufacturing,” a blog that highlights the fun and innovative advances in the industrial sector. 

Sponsored Recommendations

Enclosure Climate Control: Achieving the Ideal Temperature

March 28, 2024
There are several factors to consider when optimizing the climate inside your electrical enclosure. Download this white paper to learn more.

Find the ideal enclosure cooling solution for your application

March 28, 2024
Use the Climate Control Quickfinder tool to find the ideal climate control solution for your application in just three easy steps.

Smart Cooling Solutions: Reduce Your Energy Consumption with Advanced Technology from Rittal

March 28, 2024
Wall extension cooling units for external or internal mounting in doors and walls using standardized mounting cut-outs. Cooling output 0.3 – 5.8 kW. Also available in energy-efficient...

Arc Flash Prevention: What You Need to Know

March 28, 2024
Download to learn: how an arc flash forms and common causes, safety recommendations to help prevent arc flash exposure (including the use of lockout tagout and energy isolating...