Nikhil Dhaka, Vice President, Primus Partners, shares his view on the likely impact of China’s rare earth export restrictions on India’s EV industry. He highlights that with OEMs holding REM inventories for only six to eight weeks, production disruptions are a growing concern. The situation is especially critical for electric two-wheelers—the fastest-growing EV segment in India—given their reliance on NdFeB magnets for efficient motor performance. Bajaj Auto’s projection of a slowdown by July underscores the limited buffer available to manufacturers.