Car industries in both the United States and Europe can stop by standing within weeks thanks to China’s continuous restrictions on rare and magnet metal exports. Many manufacturers of European auto devices have already stopped production lines, according to the European Association of Motors (CLEPA).
Companies that want to export materials now require a license, and it was difficult to obtain – Nikki Reports Only 25 percent of the applications were approved. according to New York Times This had an impact on the effect, as some magnet manufacturers in China stopped production while waiting for exports, which could cause further deficiency in the future.
It is a problem for multiple industries, including Robots Defense, with car manufacturers in a special danger. The rare Earth magnet is necessary for hybrid and EV engines, but there is also in everything from the incentive transformers to the car seats. The Times Reports that the US CEOs in the United States warn that production can be reduced within weeks, while after a The first warning last weekMany European parts have already started stopping work.
“Through the deeply intertwined global supply chain, export restrictions in China have already closed production in the suppliers sector in Europe,” said Benjamin Crager, Secretary -General of Clepa. In a statement. “We urgently call both the Chinese authorities and authorities to engage in a constructive dialogue to ensure that the license process is transparent, commensurate and in line with international standards.”
