China tightens supply: India's auto industry seeks govt help on rare earth magnet imports; key EV parts impacted

The Indian automobile industry is seeking government intervention to expedite Chinese approvals for rare earth magnet imports, crucial for electric vehicles and car components. Restrictions imposed by China on rare earth element exports are causing supply chain disruptions. Automakers are exploring alternatives, but immediate solutions are limited, potentially leading to production delays and increased costs. https://ift.tt/skvxhSa