Ola Electric to use ferrite magnet motor amid rare earths crisis
Ola Electric has been developing an in-house ferrite magnet-run motor to reduce its reliance on China and other countries for rare earth magnets/metals. "The ferrite motor products come out next quarter, and then, over two to three quarters, all our products will become ferrite motor," CEO Bhavish Aggarwal said. This comes as China imposed export restrictions on rare earths.