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Greaves Cotton Limited, a 165-year-old diversified engineering company, has announced a strategic partnership with Bengaluru-based startup Chara Technologies to manufacture rare-earth-free motors for electric mobility applications. The collaboration will focus on the production of synchronous reluctance motors and controllers at Greaves’ state-of-the-art facility in Shendra, Aurangabad.
This alliance aims to address critical supply chain vulnerabilities in the electric vehicle (EV) sector and promote environmental sustainability. Chara’s proprietary technology eliminates the use of rare-earth magnets—components that are difficult to source and environmentally taxing. The companies claim this innovation can result in up to 50% energy savings and a 30% reduction in CO2 emissions, by using more sustainable and locally available materials.
As per the agreement, Greaves will exclusively manufacture these advanced motors and controllers for a variety of applications, including L5 three-wheelers, golf carts, and four-wheelers. The partnership combines Chara’s cutting-edge R&D and motor design capabilities with Greaves' established manufacturing infrastructure and scale.
Dr. Arup Basu, Managing Director of Greaves Cotton, commented on the development, saying,“Our partnership with Chara Technologies is a strategic step toward building resilient supply chains and achieving manufacturing excellence in the EV ecosystem. It aligns with our long-term vision of driving sustainable mobility through innovation.”
Chara Technologies' Founder and CEO, Bhaktha Keshavachar, expressed optimism about the partnership, stating,“Joining hands with an industry leader like Greaves allows us to scale our breakthrough technology and accelerate India’s transition to clean and sustainable mobility.”
The move comes at a time when the global automotive industry is grappling with supply chain disruptions, labor shortages, and rising regulatory challenges. Technologies like rare-earth-free motors can play a key role in making EV manufacturing more resilient and cost-effective.
Greaves Cotton, traditionally known for its diesel engines, is actively transforming into a comprehensive mobility solutions provider. The company now operates through five key business segments: Greaves Engineering, Greaves Electric Mobility, Greaves Retail, Greaves Finance, and Greaves Technologies.
Chara Technologies specializes in the development of sustainable electric motor systems for a wide range of applications, including on-highway and off-highway electric vehicles, agriculture, and industrial sectors.
This partnership marks another milestone in India's evolving electric mobility landscape, supporting the national objective of reducing fossil fuel dependency and building indigenous technological capabilities.
