Overview

• Mahindra & Mahindra has built inventory through alternative sourcing channels to cover its magnet requirements through mid-2026.
• Group CFO Amarjyoti Barua says the current fiscal year is “more or less managed” and does not foresee major supply risks over the next nine months.
• Engineering teams at the company are developing medium- and long-term component redesigns to lessen reliance on scarce neodymium-iron-boron magnets.
• Maruti Suzuki and Hyundai Motor India report uninterrupted production despite earlier warnings that inventories could have run dry by mid-July.
• China’s licensing controls have halved exports of key neodymium-iron-boron magnets since April, triggering global bottlenecks in the auto and electronics sectors.