Government Extends Deadline for EV Magnet Manufacturing Scheme Bids to June 29.

The Ministry of Heavy Industries has extended the bid submission deadline to June 29, 2026, for India’s ₹7,280-crore scheme aimed at promoting domestic manufacturing of rare earth permanent magnets, following industry requests for additional time to prepare proposals.

The extension applies to the Scheme to Promote Manufacturing of Sintered Rare Earth Permanent Magnets (REPMs), which is designed to build domestic capacity for high-performance magnets used in electric vehicle motors. These components are currently almost entirely imported by India, primarily from China, making them strategically important for supply chain security.

The scheme, overseen by the Ministry of Heavy Industries—the nodal ministry for the automobile sector

was earlier scheduled to close bidding on May 28. The revised timeline now sets June 29, 2026, as the new deadline for submissions.