China Magnet Curbs Threaten India Auto Output, Bajaj Warns
India's vehicle production will take a hit as early as July if China doesn't resume shipments of rare earth magnets, Bajaj Auto Ltd. Executive Director Rakesh Sharma warned, highlighting the mounting risk to the industry from Beijing's export curbs.
Bajaj Auto is India's largest electric two-wheeler maker and uses neodymium-based rare earth magnets in its electric motors. India is heavily reliant on imports from China, the world's dominant supplier, but the Chinese introduced tighter controls on exports of those critical components in April.
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