Maruti Suzuki Faces Production Hurdle Amid Rare Earth Magnet Shortage
Maruti Suzuki India recalibrates e VITARA production due to rare earth magnet shortage. The plan shifts from 26,000 units to around 8,000 by September. The company aims to recover with 67,000 units this fiscal. China's export restrictions on rare earths create hurdles for the auto industry.
- Country:
- India
India's leading car manufacturer, Maruti Suzuki, is adjusting its production target for the upcoming e VITARA model due to a shortage of rare earth magnets, according to industry insiders.
The company now plans to roll out approximately 8,000 units by September, a sharp decrease from the initial target of over 26,000 units.
Despite the setback, Maruti Suzuki intends to compensate in later months by aiming to produce around 67,000 units this fiscal year. The shortage stems from China's restrictions on the export of rare earth elements, critical for various industries.
(With inputs from agencies.)
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