Bajaj Auto May Halt EV Production in August Due to China Magnet Shortage

Bajaj Auto may stop making its Chetak e-scooter and GoGo e-rickshaw in August due to a shortage of rare earth magnets, says MD Rajiv Bajaj. The issue is caused by China’s export restrictions, making Bajaj the first automaker to pause EV production for this reason. EV output was already cut by 50% in July; June production ran on old inventory. Rare earth magnets are critical for EVs, ICE vehicles, electronics, and defence systems. China is the top global supplier of these magnets