Tata Motors Addresses Rare-Earth Magnet Concerns Amid China's Export Curbs

Tata Motors, the owner of Jaguar Land Rover, announced it is considering alternative sources for rare-earth magnets following China's export restrictions. The company insisted that the current situation doesn't require alarmist measures, despite disruptions in the global auto industry caused by China's restrictions.

The Chief Financial Officer, PB Balaji, stated at a Mumbai event that Tata Motors believes supplies will remain steady, with no reduction in production planned. He confirmed that alternative technologies are under evaluation as potential solutions.

In response to China controlling 90% of the global magnet processing capacity, India plans to boost domestic production through fiscal incentives. Meanwhile, Tata's Jaguar Land Rover will manage price increases in response to global tariffs, as previously forecasted earnings take a hit due to ongoing market uncertainties.

(With inputs from agencies.)