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Maruti has magnet stock till July, looking for alternatives: Chairman
R C Bhargava says commercial battle helps neither Indian nor Chinese companies
Surajeet Das Gupta Delhi
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Maruti Suzuki has stocks of rare earth magnets imported from China that will last only until the end of July. The company will prepare a contingency plan, including exploring alternatives, if the ongoing issue remains unresolved by then.
Asked about the impact of China not clearing imports of rare earth magnets — an item for which automotive companies must now seek a licence — Maruti Suzuki Chairman R C Bhargava said: 'We have stocks of rare earth magnets till July-end, and everyone, including us, is hopeful that China will resume supplies. We are also looking at alternatives, but there is
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