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Ola, TVS charge up plans to beat rare-earth crunch
Business Standard
|July 23, 2025
Two-wheeler firms planning to launch scooters with ferrite motors
Ola Electric is planning to launch in the third quarter (September-December) some of its electric vehicles powered with ferrite motors as an alternative to those that go with heavy rare-earth magnets, whose supply the Chinese government has choked.
Government sources Ola is in discussion with have said the company has been working for over two years on developing the technology and design for ferrite motors, where the magnet is made of iron (with some other metals added). The prototype has been internally validated and is being tested on some of its vehicles.
The company has to go to the Automotive Research Association of India for clearance.
A spokesperson for Ola Electric declined to comment on the issue.
Giving company to Ola is TVS, which too is working on ferrite motors for its electric vehicles. However, an official query on this did not elicit any response.
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