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Bounce, which is a home-grown smart urban mobility solution, 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. Chara will design and manufacture customized motors for Bounce based on Chara’s innovative motor and drive technologies. This was intimated in a joint statement.
Vivekananda Hallekere, co-founder, Bounce, said – “Bounce is always looking at innovative ways to increase adoption of new age solutions. The company aims to transform the way India commutes. We are excited to be partnering with Chara to source locally-produced rare earth magnet- free electric motors, which will go a long way in maintaining cost efficiencies while making India independent of the global supply of rare earth materials.”
Founder and CEO of Chara, Bhaktha Keshavachar, said – “This partnership is a testament to our 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 us move towards sustainability in the long term and also help us as a country to play a more significant role in the electric transformation than to just remain as consumers.”
This partnership is part of Bounce’s strategy to develop its own fleet of EVs deployed for its mobility solutions. With local production of the core component of the electric vehicle, Bounce will save a sizable amount on imports. This partnership will make EV manufacturing sustainable and empower the local innovation ecosystem. These custom made motors 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.
Some advantages of Chara’s motors are that Chara’s motors are made with 100% locally sourced, sustainable raw materials, which can reduce the motor cost by up to 40%. Their simple construction and fault-tolerant electrical design provide a robust motor with high temperature tolerance.