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Rare earth supply squeeze likely to hit India's EV boom, say experts
China controls 92 per cent of global REM magnet production, with other players like Japan (7 per cent) and Vietnam (1 per cent) contributing marginally
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Anjali Singh Shine Jacob Mumbai/Chennai
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China's new export restrictions on rare earth materials (REM), which took effect on April 4, are already causing delays in supply to Indian automotive manufacturers and are expected to cause production disruptions—especially for electric vehicles—as the original equipment manufacturers in the country have inventories sufficient for only six to eight weeks, say industry experts.
However, sources reveal that the request by a joint delegation comprising representatives from the Society of Indian Automobile Manufacturers (SIAM) and the Automotive Component Manufacturers Association (ACMA) to meet senior Chinese government officials to raise concerns over the situation is yet to be cleared by the
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