Chennai, Feb. 1 -- Electric vehicle makers today welcomed the budgetary proposals of union Finance Minister Nirmala Sitharaman and termed them as growth oriented for their industry.
According to Madhumita Agrawal, Founder and CEO of Oben Electric, the government's focus on expanding the Rare Earth Permanent Magnet Scheme and creating dedicated rare earth corridors would play a critical role in securing essential materials for EV manufacturing.
She noted that rare earth magnets are vital components of electric motors and that strengthening capabilities across mining, processing, and advanced manufacturing would help establish a more reliable domestic supply chain.
Agrawal also highlighted the India Semiconductor Mission 2.0 and the Electr...