New Delhi: Indian skills of rare soil processing are likely to receive government support, a higher official said on Tuesday, adding that there was an effort to source of rare soil magnets from countries such as Vietnam and Japan.
“The total quantum of investment needed for the processing of rare soils is produced, how much support will be needed, is produced. Consultation of the stakeholders and many answers. Some want 50% motivation, some want 20%.”
The official explained that the government intends to motivate the processing of elements of rare soils, not the acquisition of raw materials.
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It responds to the question about alternative sources for rare soils in the light of Chinese export restrictions and the clerk said, “There are rare soils in Japan and Vietnam and bring it from there.”
Mint 17th June announced that the government plans to offer grants to private rare soil processing companies and focuses on a 10% share of global processing capacity.
At the same event, the Minister of the Heavy Industry of HD Kumaraswamy started the portal for implementing the program to support the production of electric cars in India (SPMEPCI). The aim of the program is to attract producers of foreign electric vehicles (EV) by offering reduced import obligations on fully built electric cars for five years if they set up manufacturing equipment in India.
At the beginning, Kumaraswamy said Tesla Inc, based in the US, has not changed its attitude to investing in India. “There is no further development about Tesle,” he said. “They want to sell their cars and showed interest in opening showrooms.”
The Ministry expects foreign car manufacturers to apply for benefits within the SPMEPCA in the next four months. The portal, which took place on Tuesday, will accept applications by 21 October.
Certainly, the portal may be reopened if necessary, but only until March 15, 2026, the officials at the briefing said.
The official also stated that the government actively deals with a global car and foreign embassies to attract participation. “We are trying to get the best people to participate. So we wrote all the main global OEMs (manufacturers of original equipment) and wrote the embassies of the main automotive countries we know about. In Asia it would be Vietnam. In Europe it will be Germany and Czechoslovakia.
Within this system, EV foreign manufacturers must invest at least £4 150 Crore (approximately $ 500 million) in races and machines and introduces a locally made vehicle within three years. In the same period, automakers must reach 25% of localization and increase to 50% over the next two years.
For five years, the stakeholders can import up to 8,000 units (CBU) for five years with a reduced import obligation of 15%, compared to a standard obligation of at least 70%.
According to the instructions announced by the Ministry on 2 June, companies can allocate up to 5% of their total investment in EV infrastructure. Investments in research and development will also be expected with overall investment requirements.
On the same day, Minister Kumaraswamy said that Mercedes-Benz, Kia, Hyundai and Skoda-Volkswagen have shown interest in this system during consultations.
(Tagstotranslate) India processing of rare soils
