Hyundai Navigates Rare Earth Magnet Shortage Successfully

Hyundai Motor India assured stakeholders on Wednesday that it is not experiencing any production setbacks due to the recent scarcity of rare earth magnets.

During the company's earnings conference call, K S Hariharan, Hyundai Motor India's Head of Investor Relations, emphasized their proactive inventory management strategy. He stated that the company maintains sufficient stock in collaboration with vendor partners to prevent disruption.

Despite China's tighter export controls potentially affecting global supply chains, particularly in auto and electronics sectors, Hyundai remains unaffected, leveraging strategic partnerships to sustain production.

(With inputs from agencies.)