Mahindra Clarifies Rare Earth Strategy, Denies Collaboration with Uno Minda Amid Industry Buzz

Mahindra & Mahindra Ltd has officially denied reports of a collaboration with Uno Minda for rare earth magnet production, despite growing speculation following government-led initiatives to localize critical mineral supply chains. The company emphasized its commitment to evaluating strategic growth opportunities independently, while acknowledging internal demand for rare earth components in its EV portfolio.

 

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Sources: Business Standard, Economic Times, Financial Express, Reuters, The Hindu BusinessLine, ET Auto (July 2025)