Sterling Tools Limited has informed the Exchange regarding a press release dated May 13, 2025, titled "Press Release on signing Technological License agreement with Advanced Electric Machines Ltd, UK".
STERTOOLS · price
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Sterling Tools Limited, through its subsidiary Sterling Gtake (SGEM), has signed a Technology Licensing Agreement with UK's Advanced Electric Machines (AEM) Ltd to develop, manufacture and market Rare Earth Magnet-Free traction motors for electric vehicles in India. Manufacturing will take place at SGEM's existing plant in Faridabad, with AEM providing patented technology backed by 46 international patents. This move expands Sterling Tools beyond its current leadership in Motor Control Units (MCUs) into the full EV powertrain space, with plans for joint development of integrated motor and controller solutions. The partnership targets India's traction motor market, which is expected to grow to roughly Rs 15,000 crore by 2030, and aims to reduce dependence on China-dominated permanent magnet supply chains in line with the Make in India and Atmanirbhar Bharat goals.
Strategically positive for the stock as Sterling Tools gains entry into the high-growth EV components space with proven technology, though investors should watch for execution timelines and ramp-up of the new motor business. The deal diversifies revenue beyond fasteners and MCUs into a larger addressable market.