By Renewable Energy Focus staff
Lynas will prove the raw materials for the drive train and wind turbine magnets.
Ralf-Michael Franke, CEO of Siemens Drive Train Technologies, says: “This planned joint venture has strategic importance for us to secure a long-term and stable supply with high performance magnets.”
Lynas’ Executive Chairman, Nicholas Curtis, adds: “It is clear that rare earths magnets have tremendous growth potential in this field, and Lynas is pleased to be able to provide the necessary ingredients of a stable, secure, economically and environmentally sound supply chain which is required to enable this market to grow to its full potential.”
Siemens will have a 55% stake and Lynas 45% in the drive train and wind turbine magnets JV.