Mahindra & Mahindra: Resilient Amid Magnet Shortage
Mahindra & Mahindra has assured that it is well-prepared for the global shortage of rare earth magnets, crucial for electric vehicle motors. After announcing strong financial results, the management confirmed that production remains unaffected. They have taken steps like inventory management and substituting materials to stay resilient. While M&M is on track for its EV plans, the overall auto industry faces challenges, as competitors like Maruti Suzuki have had to scale back production due to supply issues. Despite these concerns, M&M reported a significant profit increase, highlighting its market strength.
