As India opens its first Nd-Pr metal plant, Ashvini battles order delays, funding hurdles and China-led costs while pushing to build homegrown magnet manufacturing strength.
Ashvini Rare Earth has unveiled India’s first facility to produce Neodymium–Praseodymium (Nd-Pr) metal from oxide in Pune. The metal is vital for permanent magnets used in electric vehicles (EVs), wind energy systems, electronics and defence.
At full capacity, the 15-tonne-per-annum plant could supply about a quarter of India’s Nd-Pr metal needs. Yet commercial production has not begun because there are no confirmed orders.
According to a report by the Financial Express, Managing Director Vikram Dhoot is now concentrating on building domestic magnet manufacturing capability. The aim is to create viable demand so the plant can generate revenue through metal sales. He is exploring partnerships with major industry players to set up a 600-tonne-per-annum Nd-Pr metal facility under government incentive schemes.
If that does not progress, the company plans a smaller end-to-end magnet line producing around 100 kg per day of high-coercivity EV-grade magnets. This shift may take about 18 months.
A major hurdle is equipment sourcing, as most magnet machinery is controlled by Chinese suppliers. Alternatives from Japan, Europe or the US cost three to four times more, making the business unviable. If Ashvini proceeds independently, it plans to leverage Indian engineering strengths and develop innovative technical solutions.
The Pune facility signalled India’s entry into rare-earth metal production beyond China. It was developed in collaboration with the Bhabha Atomic Research Centre (BARC) and Indian Rare Earths Limited, with support from the Ministry of Mines and the Jawaharlal Nehru Aluminium Research Development and Design Centre.
Funding remains critical. Investor interest has risen after global supply shocks, but Dhoot warns many investors expect quick gains from a slow, capital-intensive sector. Until patient investment arrives, Ashvini will advance step by step.
The group’s flagship, Ashvini Magnets, is already a part of India’s bonded magnet market and supplies components for motors, pumps, automotive systems, and sensors, with a legacy dating back to 1984.
