Rare earth-free EV motor 3 years away, says Montra MD Jalaj Gupta

India's automobile industry is currently facing a rare earth magnet shortage after China -- which supplies over 80 per cent of India's magnet imports -- imposed stricter export controls in April 2025

The rare earth magnet shortage is a concern for everyone in the automobile industry and the issue should get resolved soon, said Jalaj Gupta, managing director of TI Clean Mobility, which goes by the brand name Montra Electric and is part of the ₹80,000 crore Murugappa group.

 

“Can you do an electric vehicle’s motor without these rare earth magnets? The answer is yes. How long will it take (to develop such a motor)? It will take a minimum 2–3 years,” Gupta told Business Standard on the sidelines of the launch of the firm’s three-wheeler, Super Cargo, in Delhi.

 

“That (alternative