Bengaluru-based engineering company, Greaves Cotton has partnered with Chara Technologies to manufacture Chara’s synchronous reluctance motors and controllers.
As part of this collaboration, Greaves will manufacture these motors and controllers in its facility in Shendra, Aurangabad.
Speaking about the partnership, Arup Basu, Managing Director, Greaves Cotton Ltd., said: “Our partnership with Chara Technologies aligns well with our vision and long-term strategy to leverage emerging technologies to build supply chain resilience, thereby positioning India as a key global player in clean mobility transformation.”
While the global automotive industry continues to face significant supply chain challenges, including disruptions, labour shortages, the need for rare-earth-free alternatives and regulatory compliance issues, leading to delivery delays and increased costs, synchronous reluctance motors and controllers, use rare-earth-free magnets, which maximise energy efficiency by eliminating electromagnetic losses, while also de-risking the supply chain by replacing hard-to-source minerals.
The shares of Greaves Cotton were at ₹174.10, down by 5.56 per cent on the BSE.