Greaves Cotton Limited and Chara Technologies Partner to Drive Sustainable Mobility with Rare-Earth-Free Motor Technology

Greaves Cotton Limited, a leading engineering company with a 165-year legacy of engineering excellence & trust, announced a partnership with Chara Technologies to revolutionize the electric mobility landscape by leveraging Chara's cutting-edge technology to manufacture synchronous reluctance motors and controllers. As part of this collaboration, these motors and controllers will be exclusively manufactured by Greaves and assembled at its stateof-the-art facility in Shendra, Aurangabad, catering to both automotive and non-automotive applications, including L5 three-wheelers, golf carts, and four-wheelers. The strategic partnership aims to combine Chara's expertise in motor systems with Greaves' scale in R&D and manufacturing.

Chara's distinctive synchronous reluctance motors and controllers use rare-earth-free magnets, which maximize energy efficiency by eliminating electromagnetic losses, while also de-risking the supply chain by replacing hard-to-source minerals. Eliminating the rare-earth magnets from within these components is expected to offer energy savings of up to 50% and reduce CO2 emission by 30% owing to the use of sustainable raw materials within them. The partnership will enable Greaves Cotton Ltd. to harness this technology and design bespoke electric prime mover solutions for OEMs in the EV ecosystem in India.

Speaking about the collaboration, Dr. Arup Basu, Managing Director, Greaves Cotton Ltd., said: "We are committed to enabling and scaling sustainable mobility through innovation and collaboration. Given our design agnostic approach, we partner with start-ups and technology experts to offer bespoke prime mover solutions with a focus on sustainable mobility. 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, thereby positioning India as a key global player in clean mobility transformation."

Mr. Bhaktha Keshavachar, Founder & CEO, Chara Technologies, said: We are truly honored and excited to partner with Greaves, a pioneer in India's electric mobility landscape. This collaboration is a significant milestone for us at Chara as we continue building and delivering next-generation, rare-earth-free motor technologies. 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 and contribute to India's journey towardstechnological and energy independence. Our motor and controller systems offer a timely, efficient, and scalable solution - not just for India, but for global industries seeking secure and sustainable electrification solutions.

The global automotive industry continues to face significant supply chain challenges, including disruptions, labor shortages, the need for rare-earth-free alternatives and regulatory compliance issues, leading to delivery delays and increased costs. Innovations like Chara Technologies' rareearth-free motors are helping to address and mitigate these challenges, making supply chains more agile and resilient. Greaves' partnership with Chara Technologies marks a pivotal step in this direction, in alignment with its mission to empower lives through its capabilities, scale and network.

Shares of Greaves Cotton Limited was last trading in BSE at Rs. 174.10 as compared to the previous close of Rs. 184.35. The total number of shares traded during the day was 76051 in over 1517 trades.

The stock hit an intraday high of Rs. 184.55 and intraday low of 173.35. The net turnover during the day was Rs. 13363916.00.

Source : Equity Bulls

Keywords

GreavesCotton INE224A01026 CharaTechnologies Partnership