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China's magnet rules may crimp Indian EV rollout
Mint Mumbai
|April 26, 2025
As per official data, imports of rare earth metals grew by 22% from 1,848 tonnes in FY20 to 2,270 tonnes in FY24
China's curbs on exports of rare earth magnets can hurt India's production of critical parts required to run electric vehicles (EVs), hobbling automakers' plan to localize supply chains.
China has started asking for end-user certificates to clear exports of these magnets, which are required in electric motors and some components used in EVs, a development first reported by CNBC-TV18.
As per a person aware of the development, the certificate needs to be signed by a director of the importing company that discloses end-use of the magnets and pictures of the product where they will be used.
This story is from the April 26, 2025 edition of Mint Mumbai.
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