India is embarking on an ambitious journey to become a dominant force in the global rare earth metals (REMs) market, with a significant seven-year initiative (2025-2032) aimed at bolstering its domestic mining, refining and magnet production capabilities. This strategic pivot comes as the world increasingly relies on these 17 chemical elements, which include the 15 lanthanides along with scandium and yttrium, for cutting-edge technologies that drive electric vehicles (EVs), wind turbines, smartphones and defence systems.

A recent report by Coherent Market Insights stated that despite possessing the world's fifth-largest rare earth element reserves, estimated at an impressive 6.9 million metric tonnes, India has historically been heavily reliant on imports of rare earth magnets. However, the landscape is rapidly changing. The Indian rare earth market, valued at approximately USD 40 million in 2024, is projected to soar to USD 62.0 million by 2030, growing at a compound annual growth rate (CAGR) of around 8 percent starting in 2025.

A key aspect of this initiative involves IREL (India) Ltd., a public sector enterprise, which is increasing its neodymium output. Additionally, new magnet manufacturing plants are being established in Visakhapatnam and other industrial centres. To further secure its supply chain, India has temporarily paused some exports to prioritise domestic needs and has announced significant public-private partnerships for advanced processing facilities. The nation is also actively forging international partnerships with countries in Africa and Central Asia to secure upstream supplies.

This move by India is particularly pertinent given the global concentration of rare earth supply. As of 2023, China is the dominant player, responsible for a staggering 65-69% of total rare earth output and nearly 90 percent of the world's rare earth element processing. China's recent export restrictions on gallium and germanium in 2023, in response to chip sanctions, underscored its willingness to leverage critical mineral supply chains for geopolitical influence. Such actions have accelerated efforts by the U.S., EU, and Japan to diversify their sources.

The global market for rare earth metals is projected to be worth nearly USD 6 billion by 2025, with an anticipated CAGR of 6.4 percent from 2025 to 2032, ultimately reaching around USD 9.3 billion. This growth is primarily fuelled by the shift towards clean energy and the surging demand in the electronics and EV sectors. Neodymium, a key component in permanent magnets used for EV motors and wind turbines, stands out as the most commonly used rare earth metal, holding about 38.1 percent of the market share in 2025.

India's strong emphasis on supply chain resilience, innovation, and environmental sustainability aims to position it as a key player in the global rare earth materials value chain over the next decade.

Mohit Shrivastava, AVP Research, Coherent Market Insights, said, “Rare earth metals are quickly becoming the backbone of both the clean tech and defence sectors. While China currently holds a strong grip on the supply, India has a unique opportunity to shake things up with its abundant reserves and fresh strategic plans. Transitioning from being a mere importer to an active player in the value chain will depend on enhancing refining capabilities, fostering public-private partnerships and navigating geopolitical challenges. Over the next ten years, if India invests wisely in rare earth metals infrastructure, it could emerge as a key regional processing hub – boosting domestic manufacturing and strengthening global supply chain resilience."

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Tata Motors, one of India’s leading commercial vehicle manufacturers, has signed a Memorandum of Understanding (MoU) with Think Gas, a City Gas Distribution player, to strengthen the Liquefied Natural Gas (LNG) refuelling ecosystem for long-haul and heavy-duty trucking in the country.

The collaboration aims to enhance infrastructure readiness, build awareness around fuel quality and enable wider adoption of LNG-powered commercial vehicles.

As part of the agreement, Tata Motors will work with Think Gas to identify freight corridors and logistics clusters with potential for LNG infrastructure expansion. Think Gas will focus on maintaining standards of fuel quality and supply reliability. Tata Motors customers will also receive exclusive benefits, including preferential pricing.

Think Gas currently operates 18 Liquefied and Compressed Natural Gas (LCNG) stations and plans to develop a corridor connecting industrial hubs, agricultural regions and logistics centres across the country.

Rajesh Kaul, Vice-President & Business Head – Trucks, Tata Motors, said, “As India advances towards sustainable and efficient freight movement, LNG presents a compelling solution for long-haul and heavy-duty trucking. Recognising its potential early on, we have developed robust solutions that deliver higher fuel efficiency, reduced emissions, and superior performance. Through this partnership with Think Gas, our goal is to strengthen ecosystem readiness – ensuring reliable access to refuelling infrastructure and enabling fleet operators to adopt LNG with confidence. This collaboration marks another step forward in our commitment to advancing cleaner, future-ready mobility solutions for India’s commercial vehicle industry.”

Somil Garg, Senior Vice-President and Business Head (LNG Fuel), Think Gas, said, “At Think Gas, our aim is to make cleaner fuels accessible and affordable across India. Partnering with Tata Motors, a leader in advancing alternate-fuel mobility will help us strategically scale our expansion. Supported by our global investors – I-Squared Capital, Osaka Gas, Sumitomo Corporation, Konoike Transport, JOIN, we remain committed to building a robust, safe and sustainable LNG network nationwide.”

Tata Motors is developing mobility solutions powered by alternative fuel technologies, including battery electric, Compressed Natural Gas (CNG), LNG, hydrogen internal combustion and hydrogen fuel cell.

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Chinese new energy vehicles manufacturer BYD marked its debut at the Japan Mobility Show 2025 by unveiling the BYD Racco, a lightweight all-electric K-EV designed specifically for the Japanese market.

The company also announced its dual ‘EV + PHEV’ strategy for Japan with the introduction of its first plug-in hybrid model for the market, the BYD Sealion 6 DM-i. This debut, themed ‘ONE BYD,’ featured both passenger and commercial vehicles, aiming to build a comprehensive lineup that integrates hybrid and pure-electric technologies.

The passenger vehicle booth featured the all-new BYD Racco and BYD Sealion 6 DM-i, alongside existing models like the BYD Atto 3, BYD Dolphin and BYD Seal. The display also included the Yangwang U9 supercar, representing BYD's premium brand.

BYD, which entered the Japanese passenger vehicle market in July 2022, plans to launch a total of seven to eight electric and hybrid models by 2027. The company currently operates 66 retail outlets across Japan.

On the commercial front, BYD unveiled the BYD T35 all-electric truck and the J6 Living Car Concept. The BYD T35, developed to align with Japanese regulations and dimensions, features BYD’s Blade Battery and is expected to enter the market in 2026.

BYD is already a market leader in Japan's electric bus segment, having achieved cumulative sales of approximately 500 electric buses since 2015.

Liu Xueliang, General Manager of BYD Asia-Pacific Auto Sales Division, said, “This year marks the 20th anniversary of BYD in Japan and the first time our passenger and commercial vehicles are showcased together. From electric buses to electric cars and now our Super Hybrid DM-i models – BYD Sealion 6 DM-i and the world premiere of the K-EV – BYD has always aimed to offer safe, efficient and high-quality new energy vehicles suited to Japan's needs. We will keep strengthening our services, expanding our lineup and working with Japanese customers toward a more sustainable future.”

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Kinetic Green Tonino Lamborghini has appointed Electrify Maldives as its exclusive dealer for its electric golf and lifestyle carts in the Maldives. The appointment follows a distribution agreement with Trade Promoters Sri Lanka.

Electrify Maldives unveiled the electric carts on 28 October at TechEng 2025, the Maldives' exhibition for engineering and technology. Ferruccio Lamborghini, Vice-President of Tonino Lamborghini, attended the opening ceremony as the Guest.

The collaboration is positioned to bring mobility solutions to sectors including golf courses, resorts, estates and corporate campuses.

At present, the cart line-up is offered in two product lines: the Genesis Range and the Prestige Range. Available in 2-, 4-, 6- and 8-seater configurations, the models feature a MacPherson suspension, four-wheel hydraulic brakes, 45 Nm torque and 30 percent gradeability. The lithium-ion battery with wireless charging offers a 10-year life and a range of up to 150km, backed by a 5-year warranty. Smart features such as a TFT dashboard, LED headlights and wireless mobile charging are included.

Dr. Sulajja Firodia Motwani, Founder and CEO, Kinetic Green, said: “For a long, the golf cart segment has awaited a true disruptor – an extraordinary offering that transcends the mundane. Over the years, the use of golf carts has extended well beyond golf- to luxury resorts, world-class airports, sprawling townships and corporate campuses and to personal use. But the design and specifications of popular golf carts has remained much the same, and this is where we see a large global market ready for disruption! Our JV will leverage the long legacy of the Kinetic Group in automotive engineering, Kinetic Green’s pioneering expertise in design and manufacture of electric vehicles and the experience of our partner, Tonino Lamborghini’s global experience in redefining design and lifestyle experiences and to top it all, marketing our products globally using the famous red shield with the iconic Bull. This fusion of our robust Indian engineering and EV capabilities with Tonino Lamborghini’s unparalleled design prowess and global luxury vision is not just a partnership; it is a confident declaration.”

“We are poised to create a disruption in this segment and work towards seizing leadership, globally, bringing a confident, and ambitious new benchmark to markets that are ripe for revolution. For Kinetic Green, this marks the beginning of our global journey, bringing Made in India EVs to the World. Kinetic Green’s aim is to build a USD 1 billion EV business by 2030 and this JV will play a key part in our global ambitions. I am confident that Electrify Maldives will drive this transformation in the Maldivian market by introducing innovation, ecological consciousness, premium design, trailblazing technology and top-tier quality through the sale of our carts. Electrify Maldives is officially designated to manage all local operations in the Maldives and will lead sales, marketing, and after-sales support for the entire lineup of Kinetic Green Tonino Lamborghini electric carts,” she added.

Ferruccio Lamborghini, Vice-President, Tonino Lamborghini, said: "This collaboration with Kinetic Green marks an exciting new chapter in the history of the brand founded by my father over 45 years ago. Together, we have created a project that combines the best of two worlds: the elegance and identity of Italian design with the strength, efficiency, and innovation of Indian manufacturing. This is more than an industrial joint venture – it is a bridge between two entrepreneurial cultures, united by a shared vision of the future. At Tonino Lamborghini, we believe in redefining everyday experiences into expressions of style, performance, and unmistakable identity. Our brand philosophy is deeply rooted in my family’s heritage yet constantly driven by innovation and a passion for excellence. With these golf and lifestyle carts, we are bringing that philosophy to life in a new segment – delivering not just vehicles, but a bold statement of lifestyle in motion. We chose India not only as a strategic production base, but also as a symbol of openness, growth, and global ambition. With Kinetic Green, we share fundamental values: a deep focus on the customer, continuous innovation, and meticulous attention to detail. The result is a product range that reflects the very soul of our brand – powered by cutting-edge technology and destined for discerning customers around the world. The Tonino Lamborghini Golf Carts embody our vision of electric lifestyle mobility: elegant, high-performing, and purpose-driven. We are proud to launch this journey in such a dynamic market as The Maldives. We are confident it will carry our style and passion for excellence and deliver exceptional brand experience to customers in the region.”

Kasun Abeyrathne, General Manager, Electrify Maldives, said: “At Electrify Maldives, our strength lies in engineering excellence and responsive technical support. Representing Tonino Lamborghini and Kinetic Green electric golf carts is a natural extension of our commitment to performance, reliability and service, delivering not just luxury mobility, but a robust, sustainable solution.’’

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Japanese auto major Honda Motor Co has presented the world premiere of the EV Outlier Concept, an electric motorcycle model that proposes a new vision for motorbikes beyond 2030 at the Japan Mobility Show 2025.

The concept, the company said, is not merely an electric version of existing motorcycles but represents a new direction for the segment.

The EV Outlier Concept capitalises on the design freedom unique to electric motorcycles by featuring in-wheel motors on both the front and rear wheels. This arrangement achieves a dynamic and low-proportion styling. Honda's move with the EV Outlier aims to create unprecedented value in its motorcycle offerings through electrification.

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