Sterling Tools Limited (STL) has announced a partnership between its subsidiary, Sterling Gtake E-Mobility Limited (SGEM), and Landworld Technology Co. Ltd., China, to manufacture EV On-board Chargers and DC/DC converters in India. The partnership aims to generate ₹450 crore in revenue by FY30.
The collaboration involves technology licensing and supply agreements, enabling SGEM to locally produce On-board Chargers, DC/DC convertors, and Multi-Function Units. These products are essential for the electrification of passenger and commercial vehicles and will be manufactured at Sterling's EV campus in Faridabad.
Anil Aggarwal, Chairman of Sterling Tools Limited, stated that this partnership enhances the EV ecosystem in India, expanding beyond motor control units and power train platforms to meet the growing demand for advanced EV technology. Lin Chen, Vice General Manager of Landworld Technology Co., Ltd., China, noted that India's EV market offers significant potential, and the partnership will bring their expertise in On-Board Chargers and DC/DC converters to Indian customers.
Sterling Gtake plans to expand local manufacturing of EV components and solutions, aiming to strengthen India's industrial supply chain and reduce reliance on imports.
Sterling Tools Limited, incorporated in 1979, manufactures high-tensile cold-forged automotive fasteners. Its subsidiary, SGEM, focuses on EV powertrain and power electronics solutions through technology licensing agreements. Landworld Technology Co. Ltd., established in 2013 in Shenzhen, China, specializes in manufacturing On-Board Chargers and DC/DC Converters.
The partnership aims to generate ₹450 crore in revenue by FY30.
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