China rare earth mineral export ban impact

New restrictions on rare earth magnets and related materials imposed by China are starting to bite. Hamamatsu-based small car maker Suzuki Motor’s plans to suspend the production of its flagship Swift compact hatchback due to China’s rare earth restrictions, becoming the first Japanese automaker to be impacted by the export curbs.

Suzuki halted production of the Swift, excluding the Swift Sport version, from May 26 citing a shortage of components, Reuters said in a report, adding that plans to resume output have been pushed back several times. Suzuki now expects a partial restart of production on June 13 with full resumption after June 16, as the “prospect of parts supply is clearer” now, the carmaker said in a statement.