US EditionChina’s tighter export controls squeeze wider range of rare earths
- Sona Comstar, a leading rare earth magnet importer based in Gurgaon, plans to begin domestic magnet production amid China's export restrictions in 2025.
- China's April export restrictions responding to US tariffs caused Sona Comstar and others worldwide to seek local alternatives in critical EV components.
- The company plans to increase its magnet imports to 200 tonnes this year to satisfy rising demand from its electric vehicle customers, who account for roughly one-third of its revenue, while also gearing up to invest in domestic manufacturing capabilities.
- CEO Vivek Vikram Singh emphasized that the company is prepared to allocate resources toward domestic manufacturing once the government establishes clear policies, noting their revenue growth exceeding $400 million over the last five years.
- Sona Comstar’s shift to local manufacturing aligns with India’s incentive program to reduce China dependence and suggests strengthening self-sufficiency in rare earth magnets.
14 Articles
14 Articles
Sona Comstar goes local, set to produce rare earth magnets in India for EVs to cut reliance on China: Details here
Sona Comstar, India's top importer of rare earth magnets, plans to start domestic production to reduce reliance on China. This move aligns with the government’s push to incentivise local production after China restricted the export of rare earth magnets.
And indeed it has widened, despite the announcements of Donald Trump
China Shows Off Tech Resilience in Face of Trump Export Controls
As Donald Trump brandishes US export controls on technology as a bargaining chip to wrest supplies of rare earth magnets from Beijing, China is showcasing what it can do without the most advanced American semiconductors.
Foreign media reported on Monday (June 30) that China's export controls have spread to products other than rare earths and magnets officially recognized by Beijing. As long as any sensitive words are contained, customs will block them and refuse to release them.
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