Greaves Cotton and Chara Technologies Join Forces to Develop Rare-Earth-Free Motors

Greaves Cotton Limited, a 165-year-old engineering company, has announced a strategic partnership with Bengaluru-based startup Chara Technologies to manufacture innovative rare-earth-free motors for electric mobility applications. The collaboration will focus on producing synchronous reluctance motors and controllers at Greaves' facility in Shendra, Aurangabad.

The partnership aims to address critical supply chain vulnerabilities in the electric vehicle industry while promoting sustainability. Chara's motor technology eliminates the need for rare-earth magnets, which are often difficult to source and environmentally problematic. The companies claim this technology could deliver energy savings of up to 50% and reduce CO2 emissions by approximately 30% through the use of more sustainable materials.

Under the agreement, Greaves will exclusively manufacture these motors and controllers for various applications, including L5 three-wheelers, golf carts, and four-wheelers. The company will utilize Chara's technological expertise while leveraging its own manufacturing scale and R&D capabilities.

Dr. Arup Basu, Managing Director of Greaves Cotton, emphasized the company's commitment to sustainable mobility through innovation and partnerships. "Our partnership with Chara Technologies aligns well with our vision and long-term strategy to leverage emerging technologies to build supply chain resilience and usher in manufacturing excellence in the electric mobility ecosystem," he stated.

Bhaktha Keshavachar, Founder and CEO of Chara Technologies, highlighted the significance of partnering with an established industry player. "By combining Greaves' deep industry expertise and expansive reach with Chara's pathbreaking tech and product know-how, we see a powerful opportunity to accelerate the transition to clean mobility," he said.

The global automotive industry continues to face significant supply chain challenges, including disruptions, labor shortages, and regulatory compliance issues. Innovations like rare-earth-free motors could help make supply chains more resilient by reducing dependence on scarce materials.

Greaves Cotton has been diversifying from its traditional diesel engine business to become a comprehensive mobility solutions provider. The company operates through five business units: Greaves Engineering, Greaves Electric Mobility, Greaves Retail, Greaves Finance, and Greaves Technologies.

Chara Technologies, founded in November 2019, specializes in developing sustainable electric motor systems for various applications, including on-highway and off-highway electric vehicles, agricultural, and industrial uses.

The partnership represents another step in India's growing electric mobility ecosystem as the country works to reduce dependence on fossil fuels and imported components while building domestic technological capabilities.