MP Materials sent rare-earth magnets to General Motors for testing in Q2 2026 and expects commercial shipments to begin in Q4 2026. The step would move it closer to becoming an automaker supplier, but the company still must prove it can deliver reliably.
In Q2 2026, MP Materials reported an adjusted loss of $0.01 per share, compared with $0.13 a year earlier, amid heavy investment in its business. Revenue rose 89% year over year.
GM is not the company’s only prospective customer. MP Materials reported an agreement with a new American aerospace and defense customer and subscription agreements with multiple leading U.S. and allied customers, while seeking to work with drone manufacturers.
