Latest news with #Siam
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Business Standard
2 days ago
- Automotive
- Business Standard
Rare earth magnet crisis: India's auto sector to head to Beijing for talks
Indian auto leaders to meet Chinese officials next week, aiming to resolve rare earth magnet export delays that threaten electric vehicle production and supply chain stability New Delhi The Indian automotive sector is gearing up to send a high-level delegation to China next week to tackle mounting concerns around delayed imports of rare earth magnets, according to a report in The Economic Times. The delay stems from China's new export restrictions on rare earth materials, which took effect on April 4. These regulations have introduced procedural hurdles, causing significant shipment bottlenecks for Indian manufacturers, the news report said. Several shipments of rare earth magnets — vital components used in electric motors and other automotive parts — are reportedly stranded at Chinese ports. This disruption has sparked worries about potential production halts as early as the first week of June. Joint industry delegation to engage Chinese officials A joint delegation comprising representatives from the Society of Indian Automobile Manufacturers (Siam) and the Automotive Component Manufacturers Association (Acma) is set to meet with senior Chinese government officials. Their goal is to accelerate the approval process and restore the steady flow of these critical imports, the news report said. At the same time, India's commerce and external affairs ministries are collaborating closely with the Indian embassy in Beijing to facilitate these high-level discussions. China remains the dominant player in the rare earth supply chain, accounting for around 70-80 per cent of global rare earth processing and over 90 per cent of rare earth magnet production. This makes Indian automakers and component manufacturers heavily reliant on Chinese imports. Industry experts warn that any further delay could have severe repercussions on vehicle production, especially in the fast-growing electric mobility segment, the news report said. Urgent calls for government intervention With inventories rapidly depleting, Siam and Acma have been working closely with India's commerce ministry. As reported by Reuters on May 29, Siam alerted government officials that component makers' stocks could run out by the end of May. They urged urgent intervention at the highest level, including from the Prime Minister's Office. The upcoming delegation to China will reportedly include representatives from leading original equipment manufacturers (OEMs) and component suppliers, particularly those specialising in motor manufacturing. Ministry plans meeting to boost production Amid tightening supplies of rare earth magnets from China, the Ministry of Heavy Industries has scheduled a meeting with key stakeholders on June 3 to finalise a concept note aimed at encouraging domestic manufacturing of these magnets. The proposed plan will include targeted financial incentives for companies entering this space, promote a public-private partnership framework to establish rare earth metal processing and magnet production facilities within India, and focus on identifying and partnering with alternative international suppliers to lessen the country's heavy reliance on China. The initiative follows a recent meeting held on Wednesday between senior ministry officials and representatives from the automotive industry. During the discussion, industry participants raised concerns over rapidly depleting inventories of rare earth magnets. Many warned that if imports from China are not restored promptly, several factories — including those producing electric vehicles and traditional internal combustion engine (ICE) vehicles — may be forced to shut down.
Time of India
3 days ago
- Automotive
- Time of India
Magnet crisis: Auto giants rush to China for rare earth rescue
The Indian automotive industry is preparing to send a high-level delegation to China next week to address escalating concerns over delays in rare earth magnet imports, people familiar with the development said. They noted that China's new export restrictions on rare earth materials, effective April 4, have created procedural bottlenecks, resulting in delayed shipments to Indian manufacturers. Several consignments of India-bound rare earth magnets - critical for electric motors and various automotive components - are reportedly stuck at Chinese ports, raising fears of production disruptions as early as the first week of June. A joint delegation from the Society of Indian Automobile Manufacturers (Siam) and the Automotive Component Manufacturers Association (ACMA) will meet with senior Chinese government officials to expedite necessary clearances and restore the flow of shipments, people cited above said. India's commerce and external affairs ministries are currently coordinating with their counterparts in Beijing through the Indian embassy to facilitate the meetings. "The situation is serious, but we are receiving strong support from the government. We are hopeful of an early resolution," said Vinnie Mehta, director general of ACMA. China accounts for an estimated 70-80per cent of global rare earth processing and over 90per cent of rare earth magnet production, making automakers heavily dependent on imports from the country. Automakers and component suppliers warn that further delay in getting the magnets could severely impact vehicle production, especially in the electric mobility segment. "The rare earth situation is a very difficult one," Rakesh Sharma, executive director at Bajaj Auto , said during the company's recent earnings call. He flagged the "onerous" approval process that currently involves multiple certifications from Indian ministries, the Chinese embassy, and Chinese provincial authorities. While the supply crunch poses a serious challenge, some players have begun diversifying their sourcing strategy. JBM Group, a leading electric bus manufacturer, has started procuring rare earth magnets from other Asian countries. "Post-pandemic, we undertook a comprehensive risk assessment that led us to explore alternative supply bases beyond China," said Nishant Arya, vice-chairman of JBM Group. With inventory levels depleting rapidly, Siam and ACMA have been in active dialogue with the commerce ministry. As reported by Reuters on May 29, Siam informed government officials that component makers' inventories could run out by the end of May and urged intervention at the highest level, including from the Prime Minister's Office. Representatives from major OEMs and suppliers, particularly those involved in motor manufacturing, are expected to be part of the industry delegation headed for China.
Time of India
3 days ago
- Automotive
- Time of India
Magnet crisis: Auto giants rush to China for rare earth rescue
The Indian automotive industry is preparing to send a high-level delegation to China next week to address escalating concerns over delays in rare earth magnet imports, people familiar with the development said. They noted that China's new export restrictions on rare earth materials, effective April 4, have created procedural bottlenecks, resulting in delayed shipments to Indian manufacturers. Several consignments of India-bound rare earth magnets - critical for electric motors and various automotive components - are reportedly stuck at Chinese ports, raising fears of production disruptions as early as the first week of June. A joint delegation from the Society of Indian Automobile Manufacturers (Siam) and the Automotive Component Manufacturers Association (ACMA) will meet with senior Chinese government officials to expedite necessary clearances and restore the flow of shipments, people cited above said. India's commerce and external affairs ministries are currently coordinating with their counterparts in Beijing through the Indian embassy to facilitate the meetings. "The situation is serious, but we are receiving strong support from the government. We are hopeful of an early resolution," said Vinnie Mehta, director general of ACMA. China accounts for an estimated 70-80% of global rare earth processing and over 90% of rare earth magnet production, making automakers heavily dependent on imports from the country. Automakers and component suppliers warn that further delay in getting the magnets could severely impact vehicle production, especially in the electric mobility segment. "The rare earth situation is a very difficult one," Rakesh Sharma, executive director at Bajaj Auto , said during the company's recent earnings call. He flagged the "onerous" approval process that currently involves multiple certifications from Indian ministries, the Chinese embassy, and Chinese provincial authorities. While the supply crunch poses a serious challenge, some players have begun diversifying their sourcing strategy. JBM Group, a leading electric bus manufacturer, has started procuring rare earth magnets from other Asian countries. "Post-pandemic, we undertook a comprehensive risk assessment that led us to explore alternative supply bases beyond China," said Nishant Arya, vice-chairman of JBM Group. With inventory levels depleting rapidly, Siam and ACMA have been in active dialogue with the commerce ministry. As reported by Reuters on May 29, Siam informed government officials that component makers' inventories could run out by the end of May and urged intervention at the highest level, including from the Prime Minister's Office. Representatives from major OEMs and suppliers, particularly those involved in motor manufacturing, are expected to be part of the industry delegation headed for China.
Yahoo
15-05-2025
- Sport
- Yahoo
Hopes that Jersey and Guernsey rugby sides can combine each year
Organisers hopes Saturday's inaugural Channel Island rugby match can become an annual event. Jersey and Guernsey rugby clubs have come together and will take on Sweden on Saturday evening at Footes Lane. It is the first time the two Channel Island clubs have joined forces for a combined team. The game will be played two weeks after Jersey beat Guernsey in their annual Siam Cup match at St Peter. "The intention is to run it every year and next year to play away in Jersey as we have the Siam Cup," Guernsey RFC chairman Gary Haycock-West told BBC Radio Guernsey. "Jersey have been very much a part of this journey, very collaborative. "The whole idea is it's going to have a good legacy. "If we can get a great spectacle, hopefully, over the coming next year or maybe a year after we can then introduce the ladies, the seconds, very similar to the Siam Cup." With Guernsey traditionally playing in green and Jersey in red the sides will play in a white shirt with the Guernsey flag on the front and Jersey flag on the back. The flags of all five main islands have been included on the shirt, while the side will compete for a trophy whose base is made from Jersey and Guernsey granite. "This came about by thinking 'we've got a big gap in our finances for this budget year, because of the Siam being away', so myself and a couple of others were kicking around a few ideas," added Haycock-West. "I went home with great excitement and said to the wife 'we've got this idea, Jersey and Guernsey playing together in a rugby match against someone else;' and she went 'it'll never happen, too much rivalry'. "I go down the pub on the Friday with a bunch of mates, much the same answer, so I thought is this a non-starter? "But you put it into the players, and both islands really embraced it because ultimately their end is the Siam Cup and now they're playing internationally against Sweden, so it's a great opportunity." The team will be co-captained by Guernsey skipper Lewis Hiller and Jersey captain Evan Whitson, with eight starters from the home island and seven starters travelling from Jersey. "The opportunity to play an international side like Sweden and combine the two clubs has been something that's excited me for a while," said Guernsey director of rugby Jordan Reynolds, who is leading the coaching staff. "They're ranked 30th in the world, they've just come off the back of the European tournament where they did really well. "They've got a lot of players playing in National One, so a level above what we're playing at the moment. "So it's going to be a huge challenge for us, but one that we're excited about, it's not every day that you get to play with your rival club. "Hopefully we can make some success out of this and it can be something that we can play again in a year's time." The game being played a few hours after the Muratti Vase final - where Guernsey face Jersey at football in one of the most hotly anticipated derbies of the year. And while inter-island rivalries on the sports field are nothing new, Haycock-West hopes that this sporting union may well represent a new-found coming together for island sides: "I'm really hoping that if we can make this work, which I believe we are, maybe some other sports can pick up a similar model and start to up their game. "Obviously the Channel Islands punch well above their weight in lots of sports like the Commonwealth Games and such like, but hopefully we can move this and work closer together." Listen: Sport's Strangest Crimes - Bloodgate Listen to the latest Rugby Union Weekly podcast
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Business Standard
08-05-2025
- Automotive
- Business Standard
Siam seeks six-month rare earth supply lifeline to keep EVs rolling
Such a move would eliminate the need for Indian importers to seek clearance for each shipment - a process both tedious and time-consuming Premium Surajeet Das Gupta New Delhi Listen to This Article Automotive companies, through the Society of Indian Automobile Manufacturers (Siam), have requested the Ministry of Heavy Industries (MHI) to engage with the Chinese government — via the Ministry of External Affairs (MEA) — to grant a six-month approval to a specific Chinese exporter to ship the same rare earth materials to the same Indian importer. The request follows China's new and complex 'export control order' on rare earths, including magnets essential for electric vehicles (EVs). Such a move would eliminate the need for Indian importers to seek clearance for each shipment — a process both tedious and time-consuming.
