Ford

Ionic successfully demonstrated a viable recycled rare earth supply chain for EV motors through a project involving LCM, GKN, and Ford. This breakthrough could reduce dependency on primary rare earth mining for electric vehicle production and create new recycling revenue streams.

Ford's secret "Universal Electric Vehicle" platform is expected to help transform the company's EV unit from billions in annual losses to breakeven by 2029. This new platform strategy represents Ford's attempt to achieve profitability in the struggling EV market amid broader industry slowdown.