E-Truck, E-Bus Makers to Seek Localization Exemption Amid Rare Earth Magnet Shortage

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Automotive

29 July 2026 at 7:22 am

E-Truck, E-Bus Makers to Seek Localization Exemption Amid Rare Earth Magnet Shortage

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Summary

Manufacturers of electric trucks and buses are expected to request another exemption from localization norms due to the ongoing scarcity of rare earth magnets, which has also hindered the government's e-truck adoption and indigenous magnet incentive schemes.

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