Chennai-based Abhinava Rizel Ltd, a subsidiary of MM Forgings Ltd, is gearing up to start manufacturing hybrid motors for electric vehicles next month. These motors, which combine permanent magnet and reluctance technologies (PMSM and Syn-RM), promise both high torque for starting and climbing gradients, as well as high speed capabilities.
Founded in May 2022 by three engineers from SRM Institute of Science and Technology, Abhinava Rizel aims to revolutionize electric vehicle motors by integrating these two traditionally separate functionalities. The resurgence of reluctance technology, which was once deemed inefficient, now offers advantages in electric vehicles where consistent battery-powered electricity is available.
MM Forgings, a Chennai-based auto components giant with revenues exceeding ₹1,500 crore, recognized the potential of Abhinava Rizel’s technology and acquired an 88% stake in September 2022, investing ₹15.84 crore initially and providing a further ₹15.21 crore as a loan. The parent company plans to inject ₹200 crore into Abhinava Rizel to support its growth.
According to Abhinava Rizel, the market for their products is relatively unexplored beyond 10 kW, focusing more on technological advancements rather than sheer volume. Their motors range up to 100 kW, boasting impressive specifications such as 12,000 rpm, 250 Newton-metres torque, 96% peak efficiency, and weighing only 29 kgs.
With India projected to witness a significant increase in electric passenger cars by 2030, Abhinava Rizel is strategically investing in research and development, expanding its team from 60 to about 100 members. The company has already allocated substantial funds for setting up a manufacturing facility and acquiring equipment for in-house product validation.
Abhinava Rizel believes India has a unique opportunity to lead the global electric vehicle motor technology race, given the level playing field among nations in this emerging sector.
