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Business Standard

Rare earth magnet shortage will be resolved soon: Toyota's Vikram Gulati

India's automobile industry is currently facing a rare earth magnet shortage after China -- which supplies over 80 per cent of India's magnet imports premium Deepak Patel New Delhi Listen to This Article Toyota Kirloskar Motor (TKM) believes that the rare earth magnet shortage issue will be resolved soon as it was 'heartening' to see the entire Indian automotive industry and the central government working collaboratively on this matter, its Country Head Vikram Gulati told Business Standard in an interview on Wednesday. 'As of now, we have no concerns per se, but it is something that we are monitoring. Of course, this is a pan industry issue,' he said. When asked if the rare earth magnet shortage has had any effect on TKM's production plans, he replied, 'No, I'm not saying that. I'm