Startup builds rare-earth-free motors and local powertrains
11/21/2025, 8:01:41 PM | India
Tsuyo Manufacturing is scaling rare-earth-free SynRM motors and localized powertrain systems with fresh funding, patents and a production facility.
New Delhi-based Tsuyo Manufacturing, founded in 2020 by metallurgy engineer Vijay Kumar, is commercialising magnet-free, rare-earth-free powertrains for commercial vehicles, industrial machines, defence and drones.
The company has developed a SynRM (synchronous reluctance) motor topology and an in‑house stack — motors, drives, converters, instrument clusters, gearboxes and e-axles — combined with a telematics platform for real-time powertrain monitoring, predictive alerts and anomaly detection.
Tsuyo turned profitable within two years and reported roughly 100% year-on-year growth, with revenues rising from about ₹17 crore in FY24 to ₹32 crore in the last fiscal. It has filed five patents so far, including for its magnet-free SynRM, and aims to file around 30 more by next fiscal.
Tsuyo raised $4.5 million from Avaana Capital and has invested over ₹15 crore, allocating ₹10 crore to a Phase 1 manufacturing facility now producing 350 kW continuous motors (700–750 kW peak). Phase 2 is planned for 2027 ahead of a proposed 2029 IPO; the firm plans to raise at least $20 million with founder dilution capped at 40%.
Clients include leading OEMs such as Volvo Eicher, Mahindra & Mahindra, Sonalika and Hyundai; headcount is 120, targeting over 250 as R&D and production scale up. Government grants support projects like wireless charging and retrofit kits.