Maruti Suzuki says no immediate hit from China curbs on magnet exports

Maruti Suzuki, India’s top carmaker, said on Monday there is no immediate impact on its car production from China’s export curbs on rare earth magnets, a key component in electric and gasoline cars.

Indian car and component manufacturers told Prime Minister Narendra Modi’s officials last week that auto production could grind to a halt within days due to Chinese export restrictions on rare earth magnets, Reuters reported.

The companies want the government to lobby Beijing to relax the curbs.

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