Latest news with #RCBhargava
&w=3840&q=100)
Business Standard
13 hours ago
- Business
- Business Standard
Maruti has magnet stock till July, looking for alternatives: Chairman
R C Bhargava says commercial battle helps neither Indian nor Chinese companies Surajeet Das Gupta Delhi Listen to This Article Maruti Suzuki has stocks of rare earth magnets imported from China that will last only until the end of July. The company will prepare a contingency plan, including exploring alternatives, if the ongoing issue remains unresolved by then. Asked about the impact of China not clearing imports of rare earth magnets — an item for which automotive companies must now seek a licence — Maruti Suzuki Chairman R C Bhargava said: 'We have stocks of rare earth magnets till July-end, and everyone, including us, is hopeful that China will resume supplies. We are also looking at alternatives, but there is
Entrepreneur
11-06-2025
- Automotive
- Entrepreneur
Amid Rare Earth Crisis, Maruti Suzuki Revises EV Plans
The auto major is aiming to produce around 8,000 units of the model by September, as against the previous plan of rolling out over 26,000 units during the same period You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Maruti Suzuki India has cut near-term production targets for its upcoming electric vehicle e-Vitara because of rare earths shortages, according to Reuters. The auto major is aiming to produce around 8,000 units of the model by September, as opposed to the earlier plan of rolling out over 26,000 units during the same period. The company however plans to make up for the production slump with a target to produce around 67,000 units of the model by FY26. The e-Vitara is crucial to Maruti's EV plans in the country marking its entry in the segment. Earlier this week, Maruti Suzuki India Chairman R C Bhargava said there will be no impact on the company's production due to the shortage of rare earth magnets as of now. Domestic carmakers are forced to take steps as the Chinese government has put restrictions since April 4 on the export of rare earth elements and related magnets. China controls over 90 percent of global processing capacity for the magnets, used across sectors. China's export curbs on some rare earth have shocked the global auto industry, as companies struggle to maintain supply chains. While some companies in the United States, Europe and Japan are seeing ease of supplies after securing licences from Beijing, India is still waiting for China's approval amid fears of shutting down production. The domestic automobile industry has sought government support in seeking approvals from the Chinese government for importing rare earth magnets used in various applications, including passenger cars.
New Straits Times
11-06-2025
- Automotive
- New Straits Times
India's Maruti Suzuki cuts near-term EV production amid rare earths crisis
NEW DELHI: Maruti Suzuki has cut near-term production targets for its maiden electric vehicle (EV) e-Vitara by two-thirds because of rare earths shortages, a document showed, in the latest sign of disruption to the auto industry from China's export curbs. India's top carmaker, which said on Monday it had not seen any impact yet from the supply crisis, now plans to make about 8,200 e-Vitaras between April and September, versus an original goal of 26,500, according to a company document seen by Reuters. It cited "supply constraints" in rare earth materials that are vital in making magnets and other components across a range of hi-tech industries. Maruti still plans to meet its output target of 67,000 EVs for the year ending March 2026 by ramping up production in subsequent months, the document said. China's curbs on some rare earth exports have rocked the global auto industry, with companies warning of severe supply chain disruptions. While some companies in the United States, Europe and Japan are seeing supplies easing as they secure licences from Beijing, India is still waiting for China's approval amid fears of production stoppages. Launched amid much fanfare at India's car show in January, the e-Vitara is crucial to Maruti's EV push in the country, marking its entry in a segment that Prime Minister Narendra Modi's government wants to grow to 30 per cent of all car sales by 2030 from about 2.5 per cent last year. The setback could also hurt parent Suzuki Motor, for which India is the biggest market by revenue and a global production hub for EVs. The bulk of the made-in-India e-Vitaras are earmarked for export by Suzuki to its major markets like Europe and Japan around summer 2025. Maruti told reporters last week the rare earths issue had no "material impact" on the e-Vitara's launch timeline. Chair RC Bhargava said there was "no impact at the moment" on production, local media reported on Monday. Maruti and Suzuki did not immediately respond to requests for comment on Tuesday. Maruti is yet to open bookings for the e-Vitara, with some analysts warning it is already late to launch EVs in the world's third-largest car market where Tesla is also expected to begin sales this year. Under its previous plan "A", Maruti was to produce 26,512 e-Vitaras between April and September – the first half of the financial year. Under the revised plan "B", it will manufacture 8,221, the document showed, indicating a two-thirds cut in its production schedule. However, in the second half of the financial year – between October and March 2026 – Maruti plans to ramp up production to 58,728 e-Vitaras, or about 440 per day at its peak, versus a previous target of 40,437 for those six months under plan A. Two supply chain sources confirmed Maruti's plan to scale back e-Vitara production because of rare earth magnet shortages but were not privy to the exact numbers. The rare earths crisis comes as Maruti is already grappling to recover market share lost to Tata Motors and Mahindra & Mahindra's feature-rich SUVs. These companies also lead India's EV sales. Maruti's share of India's passenger vehicle market is down to 41 per cent from a recent peak of about 51 per cent in March 2020. Suzuki has trimmed its sales target for India to 2.5 million vehicles by March 2031 from 3 million previously, and scaled back its lineup of EV launches to just four, instead of the six planned before, as competition in the South Asian nation intensifies.
Asahi Shimbun
10-06-2025
- Automotive
- Asahi Shimbun
India's Maruti Suzuki cuts near-term EV production amid rare earths crisis
A model poses next to Maruti Suzuki's first EV, the e Vitara SUV, on display at India's auto show in New Delhi, India, on Jan. 17. (REUTERS/File Photo) NEW DELHI--Maruti Suzuki has cut near-term production targets for its maiden electric vehicle e-Vitara by two-thirds because of rare earths shortages, a document showed, in the latest sign of disruption to the auto industry from China's export curbs. India's top carmaker, which said on Monday it had not seen any impact yet from the supply crisis, now plans to make about 8,200 e-Vitaras between April and September, versus an original goal of 26,500, according to a company document seen by Reuters. It cited "supply constraints" in rare earth materials that are vital in making magnets and other components across a range of hi-tech industries. Maruti still plans to meet its output target of 67,000 EVs for the year ending March 2026 by ramping up production in subsequent months, the document said. China's curbs on some rare earth exports have rocked the global auto industry, with companies warning of severe supply chain disruptions. While some companies in the United States, Europe and Japan are seeing supplies easing as they secure licenses from Beijing, India is still waiting for China's approval amid fears of production stoppages. Launched amid much fanfare at India's car show in January, the e-Vitara is crucial to Maruti's EV push in the country, marking its entry in a segment that Prime Minister Narendra Modi's government wants to grow to 30% of all car sales by 2030 from about 2.5% last year. The setback could also hurt parent Suzuki Motor, for which India is the biggest market by revenue and a global production hub for EVs. The bulk of the made-in-India e-Vitaras are earmarked for export by Suzuki to its major markets like Europe and Japan around summer 2025. Maruti told reporters last week the rare earths issue had no "material impact" on the e-Vitara's launch timeline. Chair RC Bhargava said there was "no impact at the moment" on production, local media reported on Monday. Maruti and Suzuki did not respond to requests for comment on Tuesday. Maruti shares trading on the Indian stock exchange fell as much as 1.4% to the day's low after the news. Maruti is yet to open bookings for the e-Vitara with some analysts warning it is already late to launch EVs in the world's third-largest car market where Tesla is also expected to begin sales this year. Under its previous plan "A," Maruti was to produce 26,512 e-Vitaras between April and September - the first half of the fiscal year. Under the revised plan "B," it will manufacture 8,221, the document showed, indicating a two-thirds cut in its production schedule. However, in the second half of the financial year - between October and March 2026 - Maruti plans to ramp up production to 58,728 e-Vitaras, or about 440 per day at its peak, versus a previous target of 40,437 for those six months under plan A. Two supply chain sources confirmed Maruti's plan to scale back e-Vitara production because of rare earth magnet shortages but were not privy to the exact numbers. The rare earths crisis comes as Maruti is already grappling to recover market share lost to Tata Motors and Mahindra & Mahindra's feature-rich SUVs. These companies also lead India's EV sales. Maruti's share of India's passenger vehicle market is down to 41% from a recent peak of about 51% in March 2020. Suzuki has trimmed its sales target for India to 2.5 million vehicles by March 2031 from 3 million previously, and scaled back its lineup of EV launches to just four, instead of the six planned before, as competition in the South Asian nation intensifies.
The Hindu
10-06-2025
- Automotive
- The Hindu
Maruti Suzuki cuts near-term EV production amid rare earths crisis
Maruti Suzuki has cut near-term production targets for its maiden electric vehicle e-Vitara by two-thirds because of rare earths shortages, a document showed, in the latest sign of disruption to the auto industry from China's export curbs. India's top carmaker, which said on Monday it had not seen any impact yet from the supply crisis, now plans to make about 8,200 e-Vitaras between April and September, versus an original goal of 26,500, according to a company document seen by Reuters. It cited "supply constraints" in rare earth materials that are vital in making magnets and other components across a range of hi-tech industries. Maruti still plans to meet its output target of 67,000 EVs for the year ending March 2026 by ramping up production in subsequent months, the document said. China's curbs on some rare earth exports have rocked the global auto industry, with companies warning of severe supply chain disruptions. While some companies in the United States, Europe and Japan are seeing supplies easing as they secure licences from Beijing, India is still waiting for China's approval amid fears of production stoppages. Launched amid much fanfare at India's car show in January, the e-Vitara is crucial to Maruti's EV push in the country, marking its entry in a segment that Prime Minister Narendra Modi's government wants to grow to 30% of all car sales by 2030 from about 2.5% last year. The setback could also hurt parent Suzuki Motor, for which India is the biggest market by revenue and a global production hub for EVs. The bulk of the made-in-India e-Vitaras are earmarked for export by Suzuki to its major markets like Europe and Japan around summer 2025. Maruti told reporters last week the rare earths issue had no "material impact" on the e-Vitara's launch timeline. Chair RC Bhargava said there was "no impact at the moment" on production, local media reported on Monday. Maruti and Suzuki did not respond to requests for comment on Tuesday. Maruti shares trading on the Indian stock exchange fell as much as 1.4% to the day's low after the news. Maruti is yet to open bookings for the e-Vitara with some analysts warning it is already late to launch EVs in the world's third-largest car market where Tesla is also expected to begin sales this year. Under its previous plan "A", Maruti was to produce 26,512 e-Vitaras between April and September - the first half of the fiscal year. Under the revised plan "B", it will manufacture 8,221, the document showed, indicating a two-thirds cut in its production schedule. However, in the second half of the financial year - between October and March 2026 - Maruti plans to ramp up production to 58,728 e-Vitaras, or about 440 per day at its peak, versus a previous target of 40,437 for those six months under plan A. Two supply chain sources confirmed Maruti's plan to scale back e-Vitara production because of rare earth magnet shortages but were not privy to the exact numbers. The rare earths crisis comes as Maruti is already grappling to recover market share lost to Tata Motors and Mahindra & Mahindra's feature-rich SUVs. These companies also lead India's EV sales. Maruti's share of India's passenger vehicle market is down to 41% from a recent peak of about 51% in March 2020. Suzuki has trimmed its sales target for India to 2.5 million vehicles by March 2031 from 3 million previously, and scaled back its lineup of EV launches to just four, instead of the six planned before, as competition in the South Asian nation intensifies.
