Apple drops $500M million on rare Earth magnets
Digest more
Apple announced a new commitment of $500 million with MP Materials, the only fully integrated rare earth producer in the United States. With
The Indian government is preparing to launch a Rs 1,345 crore subsidy scheme for domestic manufacturers of rare earth magnets, announced Union Minister HD Kumaraswamy.
The proposed scheme comes in the wake of China restricting exports of rare earth magnets that has hit global supplies, impacting EV makers, including in India.
China's export restrictions on rare earth magnets could impede India's fast-growing electric vehicle (EV) sector, though the broader automotive market is expected to remain resilient in the near term,