India Scrambling Overseas to Find Rare Earths Used in Electric Vehicles

Three India state-owned companies are planning a joint venture to secure rare earth and minor metals such as lithium and cobalt that could promote the plan of electric vehicles by 2030 in India.

For mass adoption of EVs, Indian companies National Aluminum, Hindustan Copper and Mineral Exploration Corp. plan to mine metals used in EV batteries in Argentina, Bolivia, Chile and other countries, and to build strategic reserves of tungsten, nickel and rare earths.

Experts say India's efforts to secure supplies of minor metals are crucial as China threatens to restrict rare earth exports as part of its escalating trade war with the United States.

Seventeen rare earth metals, including neodymium and dysprosium, are used in everything from drones to hard disk drives and electric motors to home appliances. Protecting these metals is crucial for India as it expands its use and manufacturing, which will eventually include mass production of EVs.

India purpose to have EVs as 30% of its new vehicle in 2030.

At present, India imports most of the finished rare earths as electric car manufacturing is still in its infancy. Total consumption in the fiscal year ending March 2016 was 31.9 tons, according to the bureau of mines.

India's total rare-earth imports by 2016 are estimated at $3.4m, of which $3.3m came from China, followed by Hong Kong and South Africa.

• < Prev
• Next >