June 24 (Reuters) - Tata Motors said on Tuesday it is planning alternate sources for rare-earth magnets and export curbs imposed by China have not caused the Indian carmaker to press any "panic buttons" yet.
"Currently, I think there's no panic because we believe the supplies are coming through. There's no production curtailment. Nothing is being planned at this point in time," CFO PB Balaji said at an event in Mumbai.
Sources, including alternate technologies, are being looked into, he added.
China's curbs on rare-earth exports have disrupted the global auto industry, with companies warning of a severe supply crunch.
Rare-earth magnets are used in everything from windshield-wiper motors to anti-lock braking sensors in vehicles.
Maruti Suzuki, India's top carmaker, cut near-term production targets for its electric vehicle e-Vitara by two-thirds because of rare-earths shortages, Reuters reported earlier this month.
Reporting by Aditi Shah in Mumbai, Writing by Manvi Pant, Meenakshi Maidas; Editing by Sonia Cheema and Rashmi Aich
Source: Reuters