Rare earth magnet crisis: Auto component industry seeks national...

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Rare earth magnet crisis: Auto component industry seeks national strategy; China export curbs spark concern

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India's auto component industry is urging a national strategy to secure critical materials for EV manufacturing due to China's export restrictions on rare earth magnets, essential for EVs and other sectors. ACMA warns of potential disruptions to India's EV plans and emphasizes the need for self-reliance through localization and alternative solutions to mitigate supply chain vulnerabilities and geopolitical disruptions.

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