Wanted: Alternatives to China's motor magnets

Beijing continues to stifle sales in aftermath of trade war with Washington

- Ayaan Kartik & Nehal Chaliawala

India's electric vehicle (EV) industry and the government are struggling to find alternatives to rare earth magnets as China, the near-monopoly supplier, continues to throttle the sale of the key component in the aftermath of its trade war with the US.

Magnet-free motors and options to replace the rare earth magnet supply chain are among the solutions that the industry and the government have discussed to ensure that the production of EVs is not disrupted.

Officials in the ministry of heavy industries, the nodal ministry for EV incentive schemes, discussed the possibility of nudging manufacturers to diversify their magnet supply chain away from China, according to one person aware of the developments. However, a solution remains elusive because China controls almost the entire global supply of rare earth magnets.