Sterling Tools through its wholly owned subsidiary Sterling Tech-Mobility has entered into a partnership with Kunshan GLVAC Yuantong New Energy Technology Company (GLVAC YT), a wholly owned subsidiary of China's Kunshan GuoLi Electronic Technology Company (GLVAC), to manufacture advanced High Voltage Direct Current (HVDC) contactors and relays in India. These components play a key role in controlling the flow of current in electric and hybrid vehicles.
This association is expected to generate Rs 250 crore in business by FY30 and Sterling Tools will bring the niche technology to manufacture and assemble HVDC Contactors and relays locally at a new facility in Bengaluru, India with an investment of around Rs 40 crore. By producing these components domestically, Sterling Tools aims to drive import substitution aligning with the Atmanirbhar Bharat vision and supporting the Make in India initiative. The development will empower Indian OEMs, Tier-I Companies, and other suppliers to access advanced technology right at home, building a self-reliant ecosystem for the Electric Vehicles (EV) and Hybrid Electric Vehicles (HEV) sectors.
Sterling Tools is engaged in manufacturing of high tensile cold forged fasteners for Automotive Industry having its presence amongst all Auto Segments- Passenger Vehicle (PV), Commercial Vehicle (CV), Two Wheelers, Farm Equipment and Off-Roadways.
