New Delhi, Dec. 29 -- India's leading electric bus and truck makers are planning to ask for a one-year extension on exemptions to import rare earth magnet motors - that are critical for electric vehicles (EVs)-under a central government scheme, three executives directly aware of the development said.

According to the executives, who spoke on the condition of anonymity, manufacturers may seek an import relaxation till March 2027 under the Rs.10,900-crore PM-E Drive scheme.

The earlier deadline for e-trucks and e-buses to switch to locally manufactured rare earth magnet motors was March 2026, which was in turn extended from 1 September 2025.

The extension is being sought as supply disruptions persist in imports, while local production of...