Tata Motors says ‘no panic' about rare earth shortage, EV plans unshaken
Maruti Suzuki, India's top carmaker, cut near-term production targets for its e-Vitara by two-thirds because of rare-earth shortages, Reuters reported earlier this month.
Shailesh Chandra, MD of Tata Motors Passenger Vehicles and its EV subsidiary, said the company was looking at how to reduce the composition of rare-earth magnets in its cars and how to completely eliminate them about the longer term.
China controls more than 90% of the global processing capacity for the magnets, which are used for cars, clean energy and home appliances. It enacted restrictions in April that require companies to obtain import permits from Beijing, as part of its retaliation against hefty US tariffs.
Balaji said Jaguar Land Rover will take price hikes 'in a calibrated manner' to counter the affect of US tariffs, but is not planning any manufacturing sites in the US.
The Range Rover maker had lowered the forecast for its fiscal 2026 earnings before interest and taxes margin to 5%-7% last week from 10% earlier, amid uncertainty in the global car industry.
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