Tata Motors Faces Rare Earth Magnet Challenge with Confidence

Tata Motors and Jaguar Land Rover (JLR) have reported that their electric vehicle production remains unaffected by the global rare earth magnets shortage. Tata Motors Group CFO P B Balaji stated on Friday that there are no current production issues, although the company acknowledges potential challenges in the coming quarters.

During an earnings call, Balaji highlighted that Tata Motors is actively employing strategies to mitigate the risks associated with the shortage. Drawing from insights gained during the semiconductor crisis, the company remains confident in managing any such future disruptions.

While Chinese export restrictions on rare earth elements have impacted the global automotive sector, Balaji assured stakeholders that Tata Motors is proactively addressing the issue. The company is progressing with plans to fully de-risk its operations, ensuring continued production stability.

(With inputs from agencies.)