Bajaj Auto turns to light magnets as EV output slumps 50% in July
New Delhi: Bajaj Auto Ltd, China’s export sidewalks, due to the shortage of heavy rare soil magnets in June and July due to production due to production, as an alternative to retrieve electric production of electric 2 and 3 -wheel production is using light rare earth magnets.
The management said on Wednesday that Bajaj’s home 2 -wheeled production will be 60% of the previously planned production for August and September, and 75% of the planned outputs planned in the same period will see in the same period.
Bajaj Auto LTD General Manager Raqesh Sharma, after the release of April-June quarter results on Wednesday, a media interaction, “Our production disorder began in the first quarter of our sales in the first quarter. Production was reached in July 50%,” he said.
As a result of the crisis, the company said that it delayed several launch of 2-wheel launch planned in July-September.
To move towards light magnets
Sharma added that the Pune -based company has begun to move forward from heavy rare earth magnets to slightly rare soil magnets, which helps to set out for a month for a month.
Rare soil magnets are classified as light and heavy categories. Although heavy rare soils are restricted by China, mild rare soil magnets continue to be exported. The more heavy the magnet, the better the performance of the engine running.
Engineering teams of automobile manufacturers are trying to match performance using slight rare earth magnets, as companies do not have visibility in the restart of heavy rare land imports.
“We have no information that the flow of heavy rare soil magnets from government or suppliers will continue,” Sharma said.
After the Bengaluru -based Ather Energy LTD, Bajaj became the second 2 -wheel manufacturer moving towards the slightly rare soil magnets. Previously, the company’s general manager Rajiv Bajaj said that August could be zero production month for a monthly monthly monthly monthly monthly monthly monthly monthly.
On Monday, ATER’s management said Mint to Mint, and that their volume will be subjected to seven -day impact due to production restrictions in the second quarter.
The interpretation of the production hit, as consumers loosen the bag wires, the festival season comes in the expected period to increase vehicle sales.
TVS Motor Company, the third largest 2 -wheel manufacturer of the country, said last week that he can manage “daily production” as he investigates alternatives to limit the influence of rare earth magnet famine.
Despite hiccups in the snow
Despite hiccups in the last few months, Bajaj Auto has managed to publish a 14% increase in net profit. La2,210 crore in June quarter, income increased by 11% La13,642 Crore. The increase in profits increased to 20% behind the expansion of the consolidated business margin due to a growth of 14% in exports and the average sales price of vehicles.
In the first quarter, 419,447 exports dual -digit growth helped the company balance the decrease of 9% in domestic sales of 529,344 units. The average sales price of vehicles is higher than the domestic market.
Management showed that sales were shot in the first quarter due to a rare earth magnet crisis.
Sharma told journalists, “The appearance of exports continues to be positive throughout the year with a growth expectation of 14-15% throughout the year,” he said.
Moreover, Bajaj Auto’s rival and the country’s largest two -wheel manufacturer Hero Motocorp announced its results on Wednesday. The hero saw the net profit increase up to 65% La1,706 Crore, income decreased by 0.3% La10,037 Crore in the first three months of the current fiscal year.
The increase in profit came behind the list of his joint company Aker Energy Ltd, which La722-Crore gain due to the dilution of the share in the company.
“Our profitability and margins, entrance and luxury motorcycles and 125cc scooter segments were supported with a strong demand. Electric mobility in our business (VIDA) witnessed good attraction and global operations remained in front of the sector and reflected the power of our brand in international markets,” he said.
TVs, Bajaj Auto, Ola Electric and Atter Rare Earth Magnet crisis while making updates, so far the hero has refrained from explaining the situation to the public. Discussions on the situation of the company are expected to take the center stage during a call with investors on 7 August.
Bajaj automatic shares are 0.6% lower LaOn Wednesday, 8,177 at BSE, Hero Motocorp’s fell to 1.5%. LaEach one 4,474.50.
