Indian EV industry could grind to a halt if China

Speaking to Moneycontrol, Rajiv Bajaj, Managing Director of Bajaj Auto, explained that heavy rare earth magnets are vital for electric vehicle production and much of the global supply chain for these materials is based in China. He warned that India’s electric vehicle (EV) industry could come to a complete standstill if China stops the export of heavy rare earth magnets, a critical component used in EV motors.

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