Archive · 2 Jun 2025
China's Magnet Curbs Threaten Indian EV Production
China has stopped exporting important magnets used in electric vehicles (EVs).
This could cause problems for car companies in India, like TVS and Maruti Suzuki, because they might not be able to make as many EVs.
TVS is worried this could stop EV production and increase costs.
While Maruti Suzuki says it is okay for now, TVS is expecting a problem in the coming months.
TVS is also planning to create its own supply chain and develop new solutions to deal with the issue.
China's export restrictions on rare earth magnets threaten EV production in India.
Maruti Suzuki sees no immediate impact, while TVS Motor expresses serious concerns.
TVS Motor's MD warns of potential production halts and rising costs due to the ban.
The industry is expected to face challenges in June and July because of the export curbs.
TVS Motor aims to develop new solutions and a self-reliant supply chain in India.
- Who
- Maruti Suzuki, TVS Motor Company, and the Indian government
- What
- China's export restrictions on rare earth magnets impact EV production.
- When
- Impact expected to show in June and July
- Where
- India and China
- Why
- To address supply chain challenges caused by China's export curbs on magnets.
Maruti Suzuki
TVS Motor Company
Impact Assessment
Maruti Suzuki
Maruti Suzuki says no immediate impact.
TVS Motor Company
TVS Motor flags significant risk to production, and sees potential production halt.
- Companies Affected
- Maruti Suzuki, TVS Motor Company
- Magnet Source
- China
- Component
- Rare earth magnets
- Impact on Production
- Potential halt for EV production
- TVS Motor's Market Cap
- ₹1,30,648.96 crore
- TVS's Export Revenue
- 30% of total, aiming for 40% by 2030
