Ecozen, a climate technology company, has announced an investment in Volektra, an electric vehicle (EV) technology firm. This partnership, which includes other investors such as Thinkuvate and Growthfactory, aims to advance electric mobility solutions globally.
The collaboration combines Ecozen's expertise in motors, controls, IoT, and analytics with Volektra's magnet-free motor technology (SEEM), to create EV conversion kits for 2-wheelers and 3-wheelers. This technology offers an alternative to traditional EV motors that use rare earth magnets, potentially reducing environmental impact and costs while maintaining performance.
Volektra's CEO, Manish Seth, stated that their technology eliminates the need for rare earth minerals, which may contribute to cost-effectiveness and environmental sustainability. Ecozen's CEO, Devendra Gupta, described the investment as an opportunity to merge technologies and potentially redefine electric mobility.
The partnership plans to integrate Ecozen's controllers into Volektra's Vollkits, which are designed to convert traditional micro-vehicles into electric ones. Volektra reports that their first-generation drivetrain has been used in over 20,000 three-wheelers and various e-bikes in the European market.
This collaboration between Ecozen and Volektra represents an effort to develop and expand sustainable transportation options. The long-term impact of this partnership on the electric vehicle industry and its ability to make sustainable transportation more widespread remains to be seen.