China imposed a ban on this valuable thing, chaos in India's EV industry, appeal made to PM Modi

China has recently banned the export of rare magnets mined from the ground. These magnetic materials are used to make motors for electric vehicles. If this ban continues further, it could be a big challenge for the auto sector.

In the last few years, the popularity of electric vehicles (EV) has increased very rapidly in India. To take advantage of this popularity, many companies have launched many new products and worked to develop infrastructure according to the industry. But now China has put the future of India's EV industry in danger. In fact, China has banned the export of rare magnets. Such a move can harm not only production but the entire EV industry in India.

According to the US Geological Survey, China accounted for 69% of rare earth mine production last year. According to the International Energy Agency, China accounts for more than 90% of the global supply of four magnetic rare earth elements (Nd, Pr, Dy, Tb). These elements are used to make permanent magnets for electric vehicle motors. These include neodymium, praseodymium, dysprosium and terbium.

How many of these magnets are used in which vehicle?

The weight of these elements used to make a petrol-diesel powered internal combustion engine is 140 grams, while the weight of these elements used to make an electric vehicle with a motor-battery combo is around 550 grams. Apart from being a crucial component for electric vehicles, these magnets are also used to make power windows and audio speakers.

Appeal to the Prime Minister

India is the world's third largest automobile market and a manufacturing hub for Hyundai, Maruti Suzuki, Volkswagen and many other car manufacturers. If China's ban continues, the Indian automotive manufacturing sector may come to a standstill in the next few days. The automobile manufacturers' organization SIAM has intervened in the matter and is looking for a solution. Prime Minister Narendra Modi's intervention is also being sought in this matter.

How long can production be halted?

Bajaj Auto Managing Director Rajiv Bajaj has also admitted in an interview that China's ban is a serious concern for the Indian auto sector. SIAM has said in a meeting held on May 19 in the presence of officials from Maruti Suzuki, Mahindra & Mahindra and Tata Motors that the auto industry's production is expected to come to a complete standstill by the end of May or early June.

PC: TV9Bharatvarsh