Electric vehicle (EV) makers worldwide are reducing reliance on rare-earth magnets due to supply chain risks and geopolitical tensions.
India is emerging as a key player in developing rare-earth-free motors, driven by cost-conscious consumers and localization efforts. Companies like Chara Technologies and Viridian Ingni Propulsion are leading the charge.
Major automakers like Nissan, BMW, and Renault have already deployed rare-earth-free designs. Tesla also aims to phase out rare earths in future motors.
Indian firms are using ferrite magnets and reluctance-based motors to cut costs. These alternatives offer 30-60% lower manufacturing costs.
Bullwork Mobility uses Chara Technologies’ motors in farm equipment, aiming for 95% local sourcing.
Indian firms are exporting to Europe and North America. The global rare-earth-free motor market is valued at $70 billion, with India capturing $2 billion.
Experts warn that while these motors reduce dependency on rare earths, they come with efficiency trade-offs and require advanced control systems.