According to The Coin News Report, China's restrictions on the export of rare earth magnets may hinder India's production of key components for electric vehicles (EVs), impeding the localization of automobile manufacturing in India. Rare earth magnets are critical raw materials for manufacturing EV components. It is reported that China has begun requiring export enterprises of magnets to provide end-user certificates, explain the final use of the products, and submit relevant materials to complete customs clearance procedures. Therefore, if India's procurement or production of motors is obstructed, the speed of electric vehicle production will slow down, ultimately leading to a decline in sales. Meanwhile, according to insiders, the Indian Automotive Component Manufacturers Association has held a meeting to assess the impact of China's restrictive measures. Some Indian companies stated that they are shipping motor rotors to China, requesting suppliers to assemble the magnets and then return them. Original article: https://www.toutiao.com/article/1830764187513163/ Disclaimer: This article solely represents the author's personal views.