Auto companies seek govt help for magnet imports

added a post in Business

2025-06-08 23:29:11 -

The automobile industry is requesting government assistance to speed up Chinese government approvals for importing rare earth magnets, essential for passenger cars and other applications. Domestic suppliers have applied through Chinese vendors, but approvals are pending. China, controlling over 90% of global processing, now requires export licenses for seven rare earth elements, impacting...

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