Desi auto companies yet to get Beijing nod for magnets
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NEW DELHI: No Indian auto component or vehicle company managed to get approval from the Chinese govt for procuring rare earth magnets so far, sources said. They added that there is also "no clarity as yet" on any timeline for a confirmed meeting with representatives of the Chinese govt, despite the intervention of Indian officials.
The applications for sourcing magnets were filed mainly by auto component manufacturers, who provide fully-built sophisticated component assemblies such as speedometers, electric motors, e-axles, electric water pumps, automatic transmission kits, speakers, sensors and ignition coils (used in engines). The companies that applied include Uno Minda, Bosch, Mareli, TVS Group, Motherson Sumi and Sona Comstar.
"There were no approvals so far, according to the latest assessment we carried through interactions with industry representatives," one of the sources told TOI. "The situation is grave, and there is now massive uncertainty regarding manufacturing schedules and factory output."
The request for a meeting with Chinese representatives is being pursued not only by industry bodies - Auto Component Manufacturers Association (Acma) and Society of Indian Automobile Manufacturers (Siam) - but also by ministries, such as heavy industries, external affairs, and Commerce.
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Officials from major automobile companies like Maruti Suzuki, Mahindra & Mahindra, Tata Motors, Bajaj Auto, and TVS are also pursuing the matter.
The industry also had a meeting with top officials at the ministry of heavy industries earlier this week as govt looks at ways to navigate out of the current crisis. "However, not much headway was made so far," an official source said. Industry executives said the ministry onboarded Ernst & Young as a partner to work on the issue.
The meeting also reviewed the preparation of some Indian companies working in the field of magnets.
The auto industry requested local producers to give a firm timeline on supplies, if at all possible, emphasising that their production line is dependent on quick procurement. Both Acma and Siam prepared a list of delegates that they intend to rope in if a visit to China can be facilitated by the govt.
Through a notification issued on April 4 this year, the Chinese govt imposed certain restrictions in the export permit system for medium and heavy rare earth metals, its alloys, magnets, and related products. To stop the diversion of magnets to defence and weapon requirements, China mandated that exporters must obtain a licence based on the provision of an End User Certificate (EUC), which would need approval from DGFT and the ministry of external affairs and also be endorsed by the Chinese Embassy in India.
After this, the EUC needs to be sent to China for approvals - first from the provincial govt from where the exporter in China will produce and export and then from China's ministry of commerce.
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