Sterling Tools’ arm has partnered with a Chinese firm to produce on-board chargers and DC/DC converters.
The partnership aims to expand Sterling Tools’ presence in the electric vehicle (EV) components market.
On-board chargers will help EVs efficiently charge from the grid.
The collaboration is expected to enhance technological capabilities and product portfolio.
Sterling Gtake E-Mobility Ltd (SGEM) has partnered with Chinese firm Landworld Technology for the local manufacturing of the on-board chargers and DC/DC converters as well as power distribution units.
SGEM, a subsidiary of the automotive components maker Sterling Tools, expects the collaboration to generate around ₹450 crore in business by FY30, the company said.
SGEM also said it will manufacture these units at its electric vehicle campus in Faridabad under a technology licence and supply pact with Landworld.
The move is a part of Sterling Gtake's plans to expand the local manufacturing of EV components and solutions, strengthening India's industrial supply chain and reducing reliance on imports.
The market segment for these products, which are crucial for the electrification of passenger and commercial vehicles, is projected to reach ₹3,000 crore, in this period, as per SGEM.
EV on-board chargers allow vehicles to connect directly to an AC power source and control the voltage and current which is required to charge the battery pack. DC/DC converters step down the battery pack voltage to a voltage, usable by the vehicle's auxiliary systems.
The diversification into these products is in line with Sterling's ambition to develop EV power electronics competence and expertise as well as a comprehensive portfolio to serve the domestic auto industry, the company said.
"This partnership creates greater depth in the EV ecosystem in India. We are expanding beyond our initial motor control unit and powertrain platforms to meet our customer's growing demand for advanced technology in the EV sector," said Anil Aggarwal, Chairman, Sterling Tools Limited.
"India's EV market offer's immense potential for growth and innovation. Through our partnership with Sterling Gtake, we are bringing our proven expertise in On-Board Chargers and DC/DC converters to Indian customers across several EV vehicle categories," Lin Chen, Vice General Manager, of Landworld Technology Co., Ltd., China.
