NEW DELHI, Sept. 13 -- India's electric mobility push may get a breather. The ministry of heavy industries is planning to allow electric truck and bus makers to import traction motors fitted with rare earth magnets without losing incentives under the Rs.10,900-crore PM E-Drive scheme, according to two officials aware of the development.
However, any relief would be temporary, lasting only until China resumes rare earth magnet exports, one of the officials said, citing the recent thaw in relations between New Delhi and Beijing.
The policy tweak comes amid a supply crunch that threatens production.
Mint reported on 18 July that the government had tasked the Automotive Research Association of India (ARAI) with assessing whether localizati...
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