Automakers gear up to roll out EVs without rare earth magnets by FY27

While companies remain tight-lipped about the development, most acknowledge that such a transition is essential to align with the rapid growth of the EV sector

India’s automobile majors are preparing for a future less dependent on rare earth magnets (REMs), in an effort to safeguard the country’s burgeoning electric vehicle (EV) sector against global supply shocks. According to several industry insiders, nearly all leading passenger and commercial vehicle manufacturers are now working towards launching vehicles powered by REM-free motors by 2026-27 (FY27).

 

While companies remain tight-lipped about the shift, most acknowledge that the transition is essential to match the pace of the sector’s growth. For years now, original equipment manufacturers (OEMs) and component vendors have been developing technologies aimed at bypassing the need for REMs