Maruti Suzuki’s EV debut hit by rare earth shortage

Maruti Suzuki has slashed production targets for its first-ever electric vehicle (EV) by two-thirds, planning just 8,200 e-Vitara units between April and September versus 26,500 as originally planned. The cutback stems from China's rare earth export restrictions first imposed in April, which is sowing more and more havoc on global automotive as critical shortages of e-motor magnet metals continue to mount.