Ram Charan Company to supply chargers to Usain Bolt’s EV business

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Ram Charan Company, the Chennai-based renewable energy specialist focused on sustainable R&D, has signed a partnership with Bolt Mobility, the electric mobility company co-founded by eight-time Olympic gold medalist Usain Bolt.

The American company Bolt Mobility is interested in personal transport with a focus on small electric two-wheelers and is committed to ensuring access, equity and quality of life through micromobility.

Through partnerships with municipalities, universities and local landlords, Bolt Mobility is advancing smarter infrastructure by integrating sustainable and accessible transportation options into the neighborhoods it serves.

”Our investment is more in the form of technology sharing, but of course there is also capital investment. The details of our equity investment will soon be announced by Usain Bolt himself,” said Kaushik Palicha, director of the family firm Ram Charan. PTI Chennai Sunday.

He said that under the agreement, his group company – Indo-Japan Polymers – will manufacture and supply chargers and superchargers to Bolt vehicles, which are mainly small two-wheelers like mopeds and bicycles, from September from their factory in Chennai.

The joint venture will begin operations next month, he said, adding that it would also consider a separate facility to manufacture these chargers.

Palicha said the supplies will initially serve Bolt Mobility’s home market, where it has a presence in more than 50 cities.

At a later stage, the partnership will expand to cover the rest of the United States, India, Latin America and Japan, he said, adding that the goal is to replace small engines with fossil fuel through small electric vehicles that help reduce waste, emissions, and noise pollution.

Ignacio Tzoumas, chief executive of Bolt Mobility, said in a separate statement that they will use Ram Charan’s undisclosed Series B investment to propel transportation sustainability efforts by bringing cutting-edge solid-state battery technology. ; metal-like energy-efficient plastics made from recycled waste; and coilless electric motors, to small personal vehicles thus replacing small fossil fuel motors.

The partnership, Tzoumas added, is a combination of cross-investments, technologies and hardware technologies, which will be used to power sustainable personal transportation.

Palicha said the partnership will also bring to the table next-generation transportation devices that have the ability to share data with city planners, helping cities become more connected, electric and efficient.

Palicha, who is a third-generation entrepreneur in the family business that started as a chemicals trader in the early 1960s, said Bolt’s vision is to ensure sustainability across its entire value chain, power quality, material quality and range. of their mobility devices.

He said their Indo-Japan Polymers Group company will work closely with Bolt to build competent plastic compounds for them to ensure maximum efficiency of their mobility devices.

Last December, Ram Charan signed an investment deal with New York-based fund TFCC International for a 46% stake in the $4.14 billion company worth more than 9 billions of dollars.

Palicha said that a small portion of committed money has come into the business so far and under the deal they will set up two manufacturing units in Gujarat and Tamil Nadu for investment of Rs 15,000 crore, and work on these factories is already underway, he added.

The TFCC investment is aimed at developing the environment for energy management systems and high storage capacity renewable energy devices made from sodium silicate.

Ram Charan started as a distributor of chemical products and since 2016 has moved towards R&D based on the management of end-of-life chemicals, given the damage they cause to the environment.

Since then, it has developed products capable of processing large quantities of unsorted waste and converting it into energy without any waste.

Ram Charan’s waste-to-energy technology allows for zero toxic residue and can be used to convert all types of unsorted waste into energy, with zero residue for the environment, making it the first of the kind in the world and also the safest.

Ram Charan implements modern techniques considering a zero parts per million production unit, and also among the first in the world to implement end product liability for their products which are marketed under the Entity 1 brand.

Posted: Sunday, March 6, 2022, 10:02 PM IST

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