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Enedym Inc. (“Enedym”), the technology company that develops next generation switched reluctance motors (SRMs), electric propulsion, and electrified powertrains, announced that it formed a partnership with the Napino Group. (“Napino”), one of India’s leading suppliers of automotive electronic products. Under the terms of the partnership, Napino will license Enedym’s switched reluctance motor (SRM) technology for use in 2-wheel electric motorcycles and scooters in India.
Dr. Ali Emadi, Founder, President, and CEO of Enedym commented, “We are excited to announce this deal with Napino. The partnership between Enedym and Napino is transformative and significant given it will provide a more stable and secure global manufacturing supply chain, combined with sustainable next generation motor technology. The landscape of the automotive industry is changing rapidly and we are excited to provide next generation electric motor technology that aligns with the needs of leading OEMs. Through the use of Enedym’s SRMs – which eliminate the need for rare earth metals often sourced exclusively from China – we are providing a gateway to low cost/high quality manufacturing of next generation motors, inverters, and controllers.
Dr. Emadi added, “We are in the midst of a historic shift, both in terms of electrification, focus on sustainability, and the need for secure and stable supply chains. Partnering with Napino will allow us to supply our next generation motor technology within a massive market and offer Indian based and global OEM’s a viable manufacturing alternative to China.”
Mr. Vaibhav Raheja, Joint Managing Director of Napino commented, “We are extremely delighted to announce our partnership with Enedym. Achieving removal of magnets and rare earth elements in these products offers great advantages not only from a geo-political point of view, but also ensures sensible use of natural resources. We are confident that the affordable and robust solution being created by our engineering & manufacturing teams will offer quicker adoption of electric mobility in India. Our vision is to make India a global manufacturing hub for EV motors and contribute towards making it carbon neutral.”
Commenting on the partnership, Mr. Naveen Kumar, Group CEO of Napino, said; “Zero emission mobility has become a global movement & with Enedym as our partner, we are gearing up to meet the current & future requirements of electric mobility. As a technology driven organization, Napino has constantly reinforced its position as a leading Auto Electronics System Supplier, offering innovative, sustainable and robust solutions for its customers. Working on cutting-edge technologies ensures that we continue to be at the forefront of the rapidly transforming business landscape.”
Sumit Dhanuka, Founder & Managing Partner of Precog Innovation Partners, commented, “We are excited to have enabled this unique strategic partnership between Napino and Enedym. This collaboration brings together Enedym’s cutting-edge design and development capabilities in the SRM motor technology space and Napino’s strong automotive manufacturing and go-to-market strengths in the Indian market, helping us realize the shared vision towards Net-Zero Mobility and an Aatmanirbhar Bharat (Self-reliant India).”
Enedym recently announced a $15 million financing round from an international group of strategic investors within the U.S., Canada, Europe, and India.