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Management attributes growth to expansion in the company's electric-vehicle traction-motor and railway businesses. Auto component maker Sona BLW Precision Forgings Ltd (Sona Comstar) on Monday reported its highest-ever quarterly performance in Q2 FY26. The company's revenue from operations stood at ₹1,144 crore, up 24 per cent from ₹922 crore a year earlier. EBITDA rose 13 per cent to ₹289 crore from ₹256 crore in the same quarter last year, with a margin of 25.3 per cent, Net profit af ...Read More >
New Delhi: India is preparing fiscal incentives to encourage domestic production of rare-earth magnets, heavy industries minister HD Kumaraswamy said Friday. In a video address at the 65th annual session of Automotive Component Manufacturers Association (ACMA), Kumaraswamy said his ministry is actively tackling vulnerabilities in critical raw materials. "Rare earth magnets are central to electric vehicle (EV) motors and currently dominated by Chinese supply, we are preparing fiscal incentives ...Read More >
Bengaluru : India's push toward clean mobility, green energy, and advanced manufacturing is facing a hidden vulnerability: its near-total reliance on imported rare-earth magnets. A new report by Primus Partners, From Extraction to Innovation: A Blueprint for Enhancing Rare Earth Magnet Ecosystem in India's EV Roadmap, outlines a national strategy to address this gap and build a self-reliant, globally competitive ecosystem for neodymium-iron-boron (NdFeB) magnets. The report underscores the urge ...Read More >
Mahindra & Mahindra is proactively managing potential rare earth magnet supply disruptions caused by China's export restrictions. The company is securing alternative sources for the next nine months and investing in engineering solutions for long-term supply chain resilience. While Maruti Suzuki and Hyundai India haven't faced production impacts, M&M is preparing for future growth amid industry-wide concerns. Mahindra & Mahindra plans to manage rare earth magnet supplies through alternative sou ...Read More >
Chennai: The auto component industry's trade surplus increased to just short of half a billion dollars in FY25 as exports overtook imports for the second year in a row. According to the latest data from the Automotive Component Manufacturers Association of India (ACMA), the trade surplus was $453 million in FY25 up from $300 million FY24. Auto parts exports at just under $23 billion are up 8% while imports at $22.4 billion are up 7%.Exports have nearly doubled from just over $13 billion in FY21. ...Read More >
New Delhi: Rare earth magnets, essential for EV motors, have become the latest flashpoint in India's growing electric mobility ambitions. These magnets power the core of Brushless DC (BLDC) and Permanent Magnet Synchronous Motors (PMSM), which drive most electric vehicles today, particularly two-wheelers. With China tightening export controls, Indian automakers now face serious supply-side disruptions. If the situation continues, industry experts warn that EV prices could rise, production could ...Read More >
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