Sterling Tools through its subsidiary, Sterling Gtake E-Mobility (SGEM), has forayed into EV On-board Chargers and DC/DC converters for electric vehicles. For this, SGEM has signed Technology License and Supply agreements with Landworld Technology Co., China to locally manufacture On-board Chargers, DC/DC convertors and Multi-Function Units (incorporating On-Board Chargers, DC/DC converters as well as Power Distribution Units (PDUs)). These products are crucial for the electrification of Passenger and Commercial Vehicles.
The company will manufacture these units at its EV campus in Faridabad. The partnership is expected to generate around Rs 450 crore in business by FY30 in a market segment that is projected to reach Rs 3,000 crore. By producing these components domestically, SGEM aims to drive import substitution, aligning with the Atmanirbhar Bharat vision and supporting the Make in India initiative. The development will empower Indian companies and other suppliers to access advanced technology locally, building a self-reliant ecosystem for the auto industry in India.
SGEM, plans to expand the local manufacturing of EV components and Solutions, strengthening India’s industrial supply chain and reducing reliance on imports. With the market poised for significant growth, this partnership is well-timed to capitalize on emerging opportunities while contributing to a sustainable future.
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.
| Company Name | CMP |
|---|---|
| Sundram Fasteners | 828.90 |
| Sterling Tools | 242.80 |
| Lakshmi Prec. Screws | 5.50 |
| Simmonds Marshall | 163.20 |
| Agarwal Bolts | |
| View more.. | |
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