Ather Energy shares in focus as rare earth magnet crunch delays Rs 26 crore incentive claim

Shares of Ather Energy will be on investor radar on Friday, September 26, after the two-wheeler EV company said it has been hit by supply chain disruptions triggered by China’s recent export curbs on certain heavy rare earth magnets, a key component in electric two-wheeler motors.

In view of the situation, the EV maker has approached the Ministry of Heavy Industries seeking a temporary waiver from the PMP requirement related to domestic magnet fitment. Until it receives clarity from the ministry, the company has chosen to delay the submission of demand incentive claims worth Rs 26.25 crore for the affected vehicles.