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India's automobile majors are preparing for a future less dependent on rare earth magnets (REMs), to safeguard the country’s burgeoning electric vehicle (EV) sector against global supply shocks…According to several industry insiders, nearly all leading passenger and commercial vehicle manufacturers are now working towards launching vehicles powered by REM-free motors by 202627 (FY27). `We need to. In some cases, the deadline may be FY27; others can possibly take longer,’’ said Mahesh Babu, CEO of Switch Mobility, the EV arm of commercial vehicle giant Ashok Leyland.

Courtesy: BS