Auto sector pushes 3-step plan to cut China dependence for rare earth magnets

Indian automakers are facing potential supply disruptions of rare earth magnets due to China's export controls, impacting production of critical components for both electric and conventional vehicles. To mitigate this, the industry has proposed a three-pronged strategy to the government, including local assembly incentives, recycling initiatives, and diversification of import sources.

from Auto-Industry-Economic Times https://ift.tt/14VG7ao