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China rejects Sona Comstar's rare earth magnets imports
Financial Express Pune
|June 07, 2025
Auto component industry explores diplomatic ways
The Chinese Government has rejected Sona Precision Forgings' (Sona Comstar) application to import rare earth magnets (REMs), making it the first Indian company to face such a decision under China's tightened export control regime.
The move, according to sources familiar with the matter, took place in late May and comes amid broader concerns across the domestic auto component sector regarding new export licensing rules introduced by Beijing in April.
However, sources said that Sona Comstar had submitted two applications and only one of them has been turned down, while the other is still under consideration.
Sources added that Sona can reapply for the application which has been rejected.
Bu hikaye Financial Express Pune dergisinin June 07, 2025 baskısından alınmıştır.
Binlerce özenle seçilmiş premium hikayeye ve 9.000'den fazla dergi ve gazeteye erişmek için Magzter GOLD'a abone olun.
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