Chennai-based Ramcharan Company Pvt. Ltd has entered into a strategic partnership with Bolt Mobility (Bolt), a US-based technology-focused transportation solutions company known for its sustainability focus in the transportation sector .
Co-founded by eight-time Olympic Gold medalist Usain Bolt, BOLT Mobility is a personal transportation company.
The partnership — a combination of cross-investment, technology & material tech — will be used to propel transportation sustainability efforts by bringing cutting-edge solid state battery technology; energy-efficient, metal-like plastics made from recycled waste; and coil less electric motors, to small and personal vehicles across the US, India, Latin America, and Japan, says a release from Ramcharan.
“By replacing small fossil-fuel engines, small electric vehicles will help reduce waste, emissions, and noise pollution,” it added.
According to the company, the partnership will bring to the table next-generation IoT smart transportation devices which have the capacity to share data with urban planners, helping cities become more connected, electric, and efficient.
Kaushik Palicha, Director, Ramcharan said, “The partnership with Bolt Mobility, a brand that stands for high standards, performance and sustainability is an important step forward for Ramcharan and its group companies.
Transportation 2.0
Ignacio Tzoumas, CEO, Bolt, said, “I’m looking forward to partnering with Ramcharan Company and usher in Transportation 2.0. Together, we are helping create healthier, more livable cities of the future.”
Ramcharan works in the waste-to-energy space and will bring to the table products that support Bolt mobility platform. Their group company Indo-Japan Polymers Private Limited will work closely with Bolt to build competent plastic compounds for Bolt to have maximum efficiency in their mobility devices.
The tie up will significantly improve the value of business for Ramcharan and their group company Indo Japan Polymers.
In December 2021, Ramcharan signed an investment agreement of $4.14 billion with TFCC international for 46 per cent equity in the company.