Latest news with #PujaDasDelhi
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Business Standard
2 days ago
- Business
- Business Standard
India hunts for rare earth magnet alternatives as China tightens grip
China holds around 50% of the world's rare earth reserves, 70% of extraction capacity, and over 90% of processing capability Puja Das Delhi Listen to This Article India is exploring alternative sources to import rare earth magnets amid ongoing supply disruptions from China, as there are no temporary domestic options available, according to a senior government official. Following the escalating tariffs imposed by US President Donald Trump on China, Beijing enacted export restrictions on seven heavy and medium rare earth elements and magnets on April 4. These include samarium, gadolinium, terbium, dysprosium, lutetium, scandium, and yttrium, which are used in defence, energy, and automotive (auto) technologies. Chinese companies are now required to secure defence licences to export these resources. Despite India assuring that these magnets will only
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Business Standard
4 days ago
- Automotive
- Business Standard
JBM auto to enter global e-bus mkt with first launch in Germany next month
The product has been developed based on extensive research that included feedback from potential customers in the European market Puja Das Delhi Listen to This Article JBM Auto, a $3 billion global Indian conglomerate, is preparing to enter the international electric bus (e-bus) market with its first launch of a city bus, Eco-life, in Germany this month, said vice-chairman and managing director Nishant Arya. The launch comes at a time when India and the European Union (EU) are negotiating a free trade agreement (FTA), anticipated to conclude by the end of this year. JBM plans to launch several global products in regions, including North America, South America, Southeast Asia, the Asia Pacific, West Asia, and African countries this year. With entering Germany, the Indian automaker plans to
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Business Standard
18-05-2025
- Automotive
- Business Standard
Skoda Auto Volkswagen set to rev up India EV play to 17% in 5 years
Currently, the 130 year old company, which has been in India for 25 years, has a 3% market share in the Indian automotive market, including internal combustion engine (ICE) vehicles and EVs Puja Das Delhi Listen to This Article Skoda Auto Volkswagen India Private Ltd (SAVWIPL) plans to grow its electric vehicle (EV) portfolio to 17 per cent by 2030, said Managing Director (MD) and Chief Executive Officer (CEO) Piyush Arora. Currently, the 130-year-old company, which has been in India for 25 years, has a 3 per cent share in the country's automotive market. This includes internal combustion engine (ICE) vehicles as well as EVs. SAVWIPL manages five brands in India — Volkswagen, Skoda Auto, Audi, Porsche, and Lamborghini. 'Considering the ever-evolving trade situation and geopolitical shifts, I believe that India will be a very good growth market for
