Magnets of Disruption: How China’s Grip on Rare Earths Is Stalling India’s EV Dreams

They lack the sleek appeal of a scooter's body panel or the obvious presence of its touchscreen dashboard. But rare-earth magnets—small, dense, and tucked away deep inside electric motors—are what give EVs their zip, silence, and efficiency. For years, Indian electric vehicle makers barely gave them a second thought, as supplies quietly flowed in from abroad. But a slow-burning overdependence on China has turned these unassuming components into a strategic headache.

At EV-focused firms like Ather Energy, Bajaj Auto, Tata Motors and TVS Motor, conversations once dominated by battery costs and design upgrades are now circling around a new ...