India, Dec. 12 -- The Government of India has issued a release:
Yes. Government of Indiais aware of import dependence of the automotive sector, particularly electric & hybrid vehicles, on rare-earth permanent magnets. This dependence has lead to supply-chain vulnerability for OEMs utilizing rare earthmagnets.
Government is exploring alternative supply of rareearth magnets. Production Linked Incentive (PLI) Scheme for Automobiles and Auto Components (PLI-Auto Scheme) is strengthening domestic capability throughlisting "rare earth magnets for xEV motors" as an Advanced Automotive Technology component and promote domestic development of alternative (rare earth free) motor technologies& its components. Further, Union Cabinet on 26.11.2025 app...