Sterling Tools Ventures into Magnet-Free Motors for EVs
Sterling Tools, via its subsidiary SGEM, announced its foray into the production of rare earth magnet-free traction motors for electric vehicles. Collaborating with UK's Advanced Electric Machines, the company aims to reduce reliance on China by manufacturing these motors in Haryana, bolstering India's EV supply chain and technological self-reliance.
- Country:
- India
Sterling Tools, through its subsidiary Sterling Gtake E-Mobility Ltd (SGEM), has made a significant stride into the electric vehicle (EV) sector with its new initiative to manufacture and market rare earth magnet-free traction motors.
The company signed a technology licensing deal with UK-based Advanced Electric Machines (AEM) Ltd, cementing plans to produce these motors at its Faridabad plant in Haryana. This move reportedly aims to offer a sustainable alternative to the reliance on Chinese supply chains.
Chairman Anil Aggarwal expressed that this diversification aligns with Sterling's ambition to fortify its powertrain capabilities and support India's automotive industry. This collaboration promises to enhance local manufacturing and self-reliance, while also catering to the burgeoning demand for advanced EV sub-systems.
(With inputs from agencies.)
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