- This collaboration will see Chara design and manufacture customised motors for Bounce based on Chara’s innovative motor and drive technologies
- The company said that this development is part of Bounce’s strategy to develop its own fleet of EVs deployed for its mobility solutions
Bounce has signed a deal with Chara, a Bengaluru-based deep-tech startup that has developed motor technology which is rare-earth free, hyper-efficient and easier and cost effective to build. This collaboration will see Chara design and manufacture customised motors for Bounce based on Chara’s innovative motor and drive technologies, a joint statement said.
The company said that this development is part of Bounce’s strategy to develop its own fleet of EVs deployed for its mobility solutions. With localisation of the core component of the electric vehicle, Bounce will save a sizable amount on imports: motors and its associated controllers are now imported in all EVs deployed in India.
Vivekananda H R, co-founder, Bounce, said that Bounce is always looking at innovative ways to increase adoption of new age solutions. The company aims to transform the way India commutes. He added that partnering with Chara to source locally-produced rare earth magnet- free electric motors will go a long way in maintaining cost efficiencies while making India independent of the global supply of rare earth materials.
The novel motors custom-designed by Chara for Bounce will be locally manufactured and deployed in Bounce’s fleet from early next year. The motor, when deployed, will be the first of its kind in the world and opens up opportunities in other platforms, in domestic and foreign markets.
Reduce the motor cost by up to 40 per cent
Chara’s motors come with various advantages. Decoupling from rare-earth magnets, Chara’s motors are made with 100 per cent locally sourced, sustainable raw materials, which can reduce the motor cost by up to 40 per cent. Their simple construction and fault-tolerant electrical design provide a robust motor with high temperature tolerance. This partnership will make EV manufacturing sustainable and empower the local innovation ecosystem.
Founder and CEO of Chara, Bhaktha Keshavachar, said that the partnership is a testament to the ability to partner with innovative companies that are striving towards a common goal of a more sustainable future. It is necessary to invest in deep tech to build technologies that can help to move towards sustainability in the long term and also help as a country to play a more significant role in the electric transformation than to just remain as consumers