By Admin 
Neighboring China considers India as its largest competition in South Asia. Recently, after the trump’s Terif announcement, when many big companies including Apple have announced to shift from China to India, it is also not digesting Beijing. Now another such news has come which is going to create disappointment for Indian electric vehicle companies.
The way India is moving forward in the electrical vehicle, it is passing by China. China has implemented strict rules on its exports from the month of April, which has about 90 percent of the world’s rare meaning magnets. The result of this is now that no Chinese company can sell without taking a license and its end use certificate from the government there.
TVS-Bajaj Motors warning
In such a situation, there has been a problem for Indian electric vehicle companies because many such rare economy containers that had left for New Delhi from China, they are still stuck there, they are not being approved.
This rare meaning magnets are used to make both electric and traditional vehicles. In such a situation, the market experts say that if the Agadar continues to stop the container from China, then there can be a big crisis for Indian companies. It is also being said that Indian auto mobile companies have stock of rare meaning only till June. India imported more than 460 tonnes of rare meaning from China in financial year 2024."Text-Align: justify;"> The biggest concern in such a situation is that no other option is visible at this time. Domestic magnet production is being promoted by the Government of India to reduce its dependence from China. But it will take a lot of time. In such a situation, it is being said in media reports that an important meeting has been called by the Ministry of Heavy Industries on June 3 i.e. today, in which an important decision can be taken regarding the production of Rare Earth Magnet.