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Time of India
2 hours ago
- Automotive
- Time of India
Indian cos chart magnet supply chain plans
ET Bureau The situation for the auto industry has deteriorated over the past few months as no Indian auto component or vehicle company has managed to get approval from the Chinese govt for procuring rare earth magnets. As Indian auto industry faces a magnet supply crunch, following restrictions placed by China, a group of companies, including some homegrown advanced material entities, have come forward to build in-house supply chains. The companies have made presentations to govt, including the heavy industries ministry, and assured building of supplies within India to reduce dependence on China. "The companies include Midwest Advanced Materials , Entellus Industries, and public sector Indian Rare Earths (IREL)," sources have told TOI. The sources said that heavy industries secretary Kamran Rizvi has also taken presentations from companies as govt develops strategies for indigenous capabilities in magnet production. "Midwest Advanced Materials made a presentation about their plans to produce rare earth magnets in India with a capacity of 500 tonnes per annum. They forecast that by end of 2026, they will be able to produce custom-made rare earth magnets for the industry," one of the sources said. Entellus, a UK-headquartered company with primary operations in India, also made a presentation to govt, detailing their plans to produce rare earth magnets. "They have told officials that their plant is ready to produce the magnetic powder but will still take some time to produce industry-grade magnets," the source said. Live Events IREL, which was among the last to make its presentation, informed govt that once production begins, they will be able to match China's rates. "However, the company said that ore present in Indian geography is 100 times less than in China, the US, and Australia," the source said. Companies also told govt that magnet production in India was shut down over the past two decades due to proliferation of cheaper Chinese supplies. "The industry members requested govt to support companies in setting up magnet production by providing incentives and monetary benefits," the source said. Secretary Rizvi told the companies to make "realistic statements about magnet production" as potential customers in the auto sector will suffer due to incorrect assessments. The auto industry has also requested potential local producers to provide a firm timeline on supplies, if possible, emphasising that their production line depends on quick procurement. The situation for the auto industry has deteriorated over the past few months as no Indian auto component or vehicle company has managed to get approval from the Chinese govt for procuring rare earth magnets. Also, there has been "no clarity as yet" on any timeline for a confirmed meeting with representatives of Chinese govt, despite intervention of Indian officials. The applications for sourcing magnets have been filed mainly by parts manufacturers who provide fully-built sophisticated component assemblies such as speedometers, electric motors, e-axles, electric water pumps, automatic transmission kits, speakers, sensors, and ignition coils (used in engines). The request for a meeting with Chinese representatives is being pursued not just by industry bodies of component makers (Auto Component Manufacturers Association) and vehicle manufacturers (Society of Indian Automobile Manufacturers), but also facilitated by officials in ministries.
Time of India
9 hours ago
- Automotive
- Time of India
Indian auto industry chart magnet supply chain plans
NEW DELHI: As Indian auto industry faces a magnet supply crunch, following restrictions placed by China, a group of companies, including some homegrown advanced material entities, have come forward to build in-house supply chains. Tired of too many ads? go ad free now The companies have made presentations to govt, including the heavy industries ministry, and assured building of supplies within India to reduce dependence on China. "The companies include Midwest Advanced Materials, Entellus Industries, and public sector Indian Rare Earths (IREL)," sources have told TOI. The sources said that heavy industries secretary Kamran Rizvi has also taken presentations from companies as govt develops strategies for indigenous capabilities in magnet production. "Midwest Advanced Materials made a presentation about their plans to produce rare earth magnets in India with a capacity of 500 tonnes per annum. They forecast that by end of 2026, they will be able to produce custom-made rare earth magnets for the industry," one of the sources said. Entellus, a UK-headquartered company with primary operations in India, also made a presentation to govt, detailing their plans to produce rare earth magnets. "They have told officials that their plant is ready to produce the magnetic powder but will still take some time to produce industry-grade magnets," the source said. IREL, which was among the last to make its presentation, informed govt that once production begins, they will be able to match China's rates. "However, the company said that ore present in Indian geography is 100 times less than in China, the US, and Australia," the source said. Tired of too many ads? go ad free now Companies also told govt that magnet production in India was shut down over the past two decades due to proliferation of cheaper Chinese supplies. "The industry members requested govt to support companies in setting up magnet production by providing incentives and monetary benefits," the source said. Secretary Rizvi told the companies to make "realistic statements about magnet production" as potential customers in the auto sector will suffer due to incorrect assessments. The has also requested potential local producers to provide a firm timeline on supplies, if possible, emphasising that their production line depends on quick procurement. The situation for the auto industry has deteriorated over the past few months as no Indian auto component or vehicle company has managed to get approval from the Chinese govt for procuring rare earth magnets. Also, there has been "no clarity as yet" on any timeline for a confirmed meeting with representatives of Chinese govt, despite intervention of Indian officials. The applications for sourcing magnets have been filed mainly by parts manufacturers who provide fully-built sophisticated component assemblies such as speedometers, electric motors, e-axles, electric water pumps, automatic transmission kits, speakers, sensors, and ignition coils (used in engines). The request for a meeting with Chinese representatives is being pursued not just by industry bodies of component makers (Auto Component Manufacturers Association) and vehicle manufacturers (Society of Indian Automobile Manufacturers), but also facilitated by officials in ministries.
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Business Standard
08-06-2025
- Business
- Business Standard
Midwest set to lead India's rare earth magnet charge from December
Hyderabad-based MAM to start 500-tonne annual rare earth magnet output by December and invest ₹1,000 crore in three years to scale capacity and secure raw material premium Shine Jacob Chennai Listen to This Article India's solution to the ongoing crisis on rare earth magnets may well be on track, as Hyderabad-based Midwest Advanced Materials (MAM) is all set to produce the country's first rare earth magnets by December from its 500-tonne-per-annum facility in Hyderabad, a top company executive told Business Standard on Sunday. The Kollareddy-family-owned company is also mulling investments to the tune of ₹1,000 crore over a period of three years to expand its capacity to around 5,000 tonnes per annum, in addition to backward integration. Midwest Ltd (a sister concern of MAM) has secured mines containing monazite (feedstock for rare earths) strategically
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Business Standard
06-06-2025
- Business
- Business Standard
Govt plans ₹1,500 crore incentive scheme to recycle critical minerals
Midwest Advanced Materials to produce rare earth magnets as India eyes local recycling of critical minerals following China's supply curbs Puja Das New Delhi Listen to This Article Following the disruption in the supply of rare earths and permanent magnets after China's notification on 4 April, the mines ministry is planning to introduce a ₹1,500 crore incentive scheme to recycle critical minerals, according to a top official. In parallel, Midwest Advanced Materials Pvt Ltd (MAM), a Hyderabad-based company specialising in advanced materials and rare earth magnets, is in talks with the Non-Ferrous Materials Technology Development Centre (NFTDC), Hyderabad, to acquire its technology for extracting and processing rare earth magnets, the official said. The incentive scheme will focus on critical minerals such as neodymium (a rare-earth element from the
