Sterling Tools Limited has informed the Exchange regarding a revised press release dated May 13, 2025, titled "Press Release on signing Technology Licensing Agreement with Advanced ElectricMachines Ltd, UK".
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Sterling Tools Limited, through its subsidiary Sterling Gtake (SGEM), has signed a Technology Licensing Agreement with UK-based Advanced Electric Machines (AEM) to develop, manufacture and market Rare Earth Magnet-Free traction motors for electric vehicles in India. The motors will be produced at SGEM's plant in Faridabad using AEM's patented technology, which offers market-leading performance without any weight or size penalty. The move addresses concerns over China-dependent permanent magnet supply disruptions and aligns with the Atmanirbhar Bharat and Make in India initiatives. Sterling Tools is targeting India's traction motors market, which is expected to grow to approximately Rs 15,000 crore by 2030. The partnership also includes plans for joint development of integrated motor and controller solutions.
This positions Sterling Tools as a complete EV powertrain solutions provider, expanding beyond its existing Motor Control Units (MCU) business into a high-growth segment. The announcement is likely to be viewed positively by the market as it reduces supply chain risk from China and taps into a large addressable opportunity, though actual revenue contribution will depend on execution and customer adoption.