Chara Technologies: India’s Rare-Earth-Free Revolution in Electric Mobility

Chara Technologies, the Indian Innovation Icons 2025 award winner in the business category, is transforming electric mobility with its rare-earth magnet-free Synchronous Reluctance Motors (SynRM), providing a sustainable, cost-effective, and high-performance alternative to India’s EV and industrial motor sectors.

In this interview, Bhaktha Keshavachar, Co-founder and CEO of Chara Technologies talks about their product, what sets them apart, and how they’ve built a game-changing innovation.

Tell us about your innovation and what makes it important.

At Chara Technologies, we have developed Rare-Earth Magnet-Free Synchronous Reluctance Motor (SynRM) systems for EVs and industrial applications. Our motors deliver a 20% cost advantage over traditional Permanent Magnet Synchronous Motors (PMSM) without compromising performance. We’ve built proprietary IP across motor design, hardware, and control algorithms, allowing in-house manufacturing that ensures sustainability and full lifecycle control. By eliminating dependency on rare-earth materials, we are creating a more sustainable and economically viable path for India’s electric future.

What made you want to be a part of this? When did you know your idea was a good one?

After selling Ezetap, I wanted to solve a pressing problem in climate tech. Concerns about pollution, climate change, combined with my knowledge of India’s deep-tech ecosystem, led me to electric motors. My co-founders and I knew we were onto something when we secured our first funding, built our motors, and received game-changing feedback from customers.

What milestones are you most proud of at Chara?

We have developed, manufactured, and deployed India’s first Rare-Earth-Free motor systems for EVs and industrial applications. After supplying to multiple Indian customers, we now have international orders. We have commercialised up to 20kW SynRM motors, with 45 kW motors in R&D, and have achieved drive cycle efficiency exceeding PMSM motors.

What does it feel like to win the Indian Innovation Icons 2025 award? 

Deep-tech and core-engineering need strong support in India, and it is an incredible feeling to have our work recognised at this level. Our team is thrilled that our vision, mission, and impact are being validated, and our families are proud of the journey we have undertaken. 

How will you make the most of the benefits that the award provides?

This award will build our credibility and open doors to new opportunities. Now, we anticipate increased awareness about Chara Technologies, which will then help drive business development, sales, and investor interest. The visibility and network access this award and MIF provides us with will accelerate our growth.

What’s one learning from your entrepreneurial journey you would like to share?

We often hear about passion, patience, and perseverance—fundamental values that are emphasised not just in our ecosystem but across industries worldwide. While these qualities are essential, I believe it is time to go beyond them and focus on execution; specifically, on selling. At the end of the day, building a great product is just one part of the journey; getting it into the hands of customers and creating real impact is what truly drives success.

What big regulatory, political, or socio-cultural bet are you taking that will favour the success of your innovation? 

We’re betting on two clear trends: the global push for non-Chinese supply chains and India’s rapidly expanding EV market, growing at 45% CAGR. Government initiatives like FAME-II and the National Motor Replacement Programme provide strong tailwinds. Our technology reduces dependence on Rare-Earth magnets, directly addressing a critical supply chain vulnerability.

What does Chara’s roadmap ahead look like?

We plan to scale production from 500 motors a month to 2,000 motors per month, while exploring contract manufacturing partnerships. Our global expansion strategy will take Chara Technologies into international markets next year.

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Click here to see All Winners of Indian Innovation Icons 2025

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