The inspiration driving this article is to explore the impacts of electromagnetic field and heat source/sink on two dimensional nanofluid flow over a stretching cylinder. The effectively controlled nanofluid model utilized in the current assessment incorporates the nanoparticle fraction model. The nanoparticles specified here are Cobalt $Co$ and Gadolinium $Gd$. Cobalt, $Co$ is a shunt material in the thermomagnetic generator. Gadolinium, $Gd$ is the material first used practically in the thermomagnetic generator. Motor Oil has taken as a base fluid. The governing system of equations solved numerically utilizing MATLAB. The effect of electric field parameter on velocity profile, Heat source/sink on temperature and heat transfer profile, has examined. Further, we noticed that Gadolinium is the most suitable material for the thermomagnetic generator. Its temperature is close to room temperature.