Press Release, 12 April 2025
Greaves Cotton Limited has partnered with Chara Technologies to manufacture synchronous reluctance motors and controllers having rare-earth-free magnets.
Chara Technologies has developed rare-earth-free magnets, which are used in synchronous reluctance motors and controllers. These motors components use sustainable raw materials, and is anticipated to result in energy savings of up to 50% and a 30% reduction in CO2 emissions. Through the collaboration, Greaves Cotton Ltd. will be able to utilize this technology and create custom electric prime mover solutions for OEMs in India’s EV market.
Greaves will manufacture and assemble motors and controllers for automotive and non-automotive applications, including L5 three-wheelers, golf carts, and four-wheelers.
Dr. Arup Basu, Managing Director of Greaves Cotton Ltd., discussed the partnership: We are dedicated to using innovation and teamwork to enable and scale sustainable mobility. We collaborate with start-ups and tech specialists to provide customized prime mover solutions, emphasizing sustainable mobility because of our design-neutral approach. Our vision and long-term plan to use emerging technologies to strengthen supply chain resilience and introduce manufacturing excellence in the electric mobility ecosystem are well-suited to our partnership with Chara Technologies, which will establish India as a major player in the global clean mobility transformation.
The founder and CEO of Chara Technologies, Mr. Bhaktha Keshavachar, stated: We are incredibly honored and thrilled to collaborate with Greaves, a trailblazer in India’s electric mobility market. For Chara, as we continue to develop and provide next-generation, rare-earth-free motor technologies, this partnership marks an important turning point. We see a significant chance to hasten the shift to clean mobility and support India’s quest for technological and energy independence by fusing Chara’s innovative tech and product know-how with Greaves’ extensive reach and in-depth industry expertise. Not just for India, but also for international industries looking for safe and sustainable electrification solutions, our motor and controller systems provide a prompt, effective, and scalable solution.
About Greaves Cotton Limited:With a 165-year history and a strong reputation for brand trust, Greaves Cotton Limited (GCL), commonly referred to as Greaves, is a multi-product, multi-fuel, and multi location engineering company. Greaves, which was first well-known for its single-cylinder diesel engines, has evolved into a provider of end-to-end month
Greaves is developing a digital ecosystem that connects consumers, business partners, and service providers throughout the mobility value chain.
Greaves Engineering and Greaves Electric Mobility are two of the company’s five independent business units. Ltd., Greaves Retail, Greaves Finance, and Greaves Technologies Ltd.Greaves combines agility and strategic focus to drive innovation and improve accessibility for consumers.
The Company’s investments in technology and human capital position it as a leader in India’s EV and sustainable mobility markets. The Company is committed to sustainable growth and economic progress, making it a trusted partner in shaping the future of mobility in India.
About Chara Technologies:
Chara Technologies is a Bangalore-based deep-tech startup that develops and manufactures Rare-Earth-free electric motor systems for a range of applications, including electric vehicles, agriculture, and industry. Chara, founded in November 2019, aims to revolutionize traditional motor technologies with innovative and sustainable solutions. Chara, led by experienced entrepreneurs and motor technologists, is committed to driving sustainable innovation in the global market.
