通用汽车（GM.N）作为一家美国稀土永磁体工厂的最大客户，取消了与该制造商的长期供货协议，双方目前处于仲裁程序中，据监管文件和一位知情人士透露。
Motors (GM.N), the biggest customer of a US factory making rare earth magnets for electric vehicles, cancelled its long-term supply deal with the manufacturer, and the two sides are in arbitration, according to regulatory documents and a person with knowledge of the situation.
这一举动凸显了西方企业在建立国内稀土产能、减少对中国依赖方面面临的挑战，中国生产了全球约90%的永磁体。
The move spotlights the challenges Western firms face in building domestic rare-earths output and cutting their reliance on China, which produces about 90% of global permanent magnets.
这也显示了自唐纳德·特朗普2025年重返白宫并削减对电动汽车的联邦支持以来，美国汽车行业格局发生了怎样的变化。
It also shows how the US auto industry's landscape has changed since Donald Trump returned to the White House in 2025 and cut federal support for electric vehicles.
德国的Vacuumschmelze（简称VAC）于2023年与通用汽车签署了一项长期协议，承诺从其位于南卡罗来纳州的新工厂为通用汽车的电动汽车供应永磁体。
Germany's Vacuumschmelze, or VAC, signed a long-term deal in 2023 with GM to supply permanent magnets for its electric vehicles from a new plant in South Carolina.
Energy Fuels（UUUU.A）于6月同意以19亿美元收购VAC，该公司在上周提交给美国证券交易委员会（SEC）的文件中表示，该工厂的一位客户于7月1日终止了供货协议，VAC几天后对该客户发起了仲裁程序。
Energy Fuels (UUUU.A), which agreed in June to pay $1.9 billion to acquire VAC, said in US Securities and Exchange Commission documents filed last week that a customer of the plant terminated its supply agreement on July 1, and VAC launched arbitration proceedings against that customer several days later.
文件未点名该客户，但通用汽车本周在向SEC提交的文件中披露，一家电动汽车牵引电机部件供应商“因我们终止了一项战略采购协议，向我们发起仲裁索赔损失”，未说明取消协议的原因。
It did not name the customer, but GM this week reported in an SEC filing that a supplier of a component for EV traction motors "initiated an arbitration against us seeking damages after we terminated a strategic sourcing agreement," without saying why it cancelled the deal.
知情人士证实，通用汽车就是取消了与VAC美国子公司e-VAC Magnetics合同的那位客户。
The person familiar with the matter confirmed GM was the customer that cancelled the contract with VAC's US unit, e-VAC Magnetics.
通用汽车和Energy Fuels因仲裁属于保密事项，拒绝置评。此次纠纷此前未有报道，涉事公司均未就该问题发布新闻稿。
GM and Energy Fuels declined to comment on the arbitration because it is confidential. The dispute has not been previously reported and none of the companies involved have issued press releases about the issue.
VAC首席执行官埃里克·埃申（Erik Eschen）去年9月曾告诉路透社，VAC斥资5亿美元建设的美国磁体工厂于去年底投产，年产能略低于2000公吨，其中90%原计划销售给通用汽车，其余供应美国政府。
VAC launched its $500-million US magnet plant late last year with a capacity of just under 2,000 metric tons a year, and 90% was set to be sold to GM, with the remainder supplying the US government, VAC CEO Erik Eschen told Reuters in September last year.
Energy Fuels表示：“我们对VAC的商业成功及其按客户规格生产稀土永磁体的能力没有任何担忧。”
"We have no concerns about VAC’s commercial success and its ability to produce rare earth permanent magnets to customer specifications," Energy Fuels said.
不过，Energy Fuels告诉路透社，根据仲裁结果，可能会“对我们收购VAC的购买价格进行潜在调整”。在特朗普政府撤销旨在惠及该行业的激励措施和税收减免后，通用汽车一直在缩减电动汽车销售，而电动汽车历史上一直处于亏损状态。
However, Energy Fuels told Reuters there may be "potential adjustments to our purchase price of VAC depending on the outcome of the arbitration." GM has been pulling back on sales of EVs, which historically have lost money, following the Trump administration’s withdrawal of incentives and tax breaks meant to benefit the industry.
今年1月，通用汽车计提了60亿美元费用，以撤销部分电动汽车投资。三年前，当通用汽车与VAC宣布供应协议时，VAC表示该工厂将至少为通用汽车提供10年支持，并供应多种车型。
In January, GM took a $6 billion charge to unwind some EV investments. When GM and VAC announced the supply deal three years ago, VAC said the plant would support GM for a minimum of 10 years and supply a wide range of models.
根据SEC文件，该争议最早于2026年4月出现。Energy Fuels表示，在谈判收购VAC时已知晓该争议。
The dispute first arose in April 2026, according to the SEC documents. Energy Fuels said it was aware of the dispute when it was negotiating the VAC acquisition.
作为核电行业铀生产商，Energy Fuels表示，此次收购将使其成为全球最大的非中国磁体生产商之一，产品用于航空航天、国防和可再生能源领域。
Energy Fuels, a producer of uranium for the nuclear power industry, said the takeover would allow it to become one of the world's largest non-Chinese producers of magnets used in the aerospace, defence and renewable energy sectors.
VAC从德国、马来西亚及其他国家的工厂向1000多家客户供应磁体。
VAC supplies magnets to more than 1,000 customers, from facilities in Germany, Malaysia and other countries.