New Delhi, Feb. 10 -- India's plan to develop a rare earth metals corridor spanning seven states is a positive step for the electric vehicle ecosystem, but its impact will be visible only over the long term as the initiative moves from announcement to execution, Hardeep Brar, President and Chief Executive Officer of BMW Group India, said on Tuesday.

While speaking on the sidelines of the 5th Global Electrification and Mobility Summit organised by the Society of Indian Automobile Manufacturers (SIAM), Brar said, "On the rare earth metals, there's a corridor across seven states, which is very positive. But it has just been announced. Once it is in execution, we will know its long-term impact. In the short term, I don't see any impact."

Br...