Sterling Tools partners with Advanced Electric Machines for magnet-free EV motors in India

Sterling Tools Limited (BSE: 530759, NSE: STERTOOLS), an automotive component manufacturer in India and a producer of Motor Control Units (MCUs), has entered into the development, manufacturing, and marketing of rare earth magnet-free traction motors for electric vehicles through its subsidiary, Sterling Gtake E-Mobility (SGEM). The company has signed a Technology Licensing Agreement with Advanced Electric Machines (AEM) Ltd, UK, to manufacture these motors at its plant in Faridabad. This agreement allows SGEM to manufacture motors based on AEM’s patented technology.

The introduction of magnet-free motors provides an alternative to permanent magnet motors, which are dependent on global supply chains. The partnership aims to support the domestic production of traction motors, a market projected to reach approximately Rs 15,000 crore by 2030. The agreement also includes plans for the joint development of integrated motor and controller solutions.

Through this initiative, Sterling Tools plans to reduce imports and support domestic manufacturing in line with the government’s localization and self-reliance policies. The objective is to develop a local ecosystem for EV components.

Anil Aggarwal, Chairman, Sterling Tools Limited, said, “Sterling’s foray into Rare Earth Magnet-Free motors demonstrates the Group’s commitment to being a technology leader and an industry pioneer. We are expanding beyond MCUs to being a complete solution provider and meeting the EV Industry’s growing demand for advanced technology. EV sub-systems are being increasingly consolidated into multifunction units and Sterling will also offer our customers integrated motor and controller solutions. The Sterling Group will continue to extend excellent technical and application support to its customers to help drive greater adoption of EVs in India. The diversification into Rare Earth Magnet-Free motors is in line with Sterling’s ambition to develop Powertrain expertise to serve the Indian Auto Industry. Sterling Tools plans to further expand the local manufacturing of EV Solutions, strengthening India’s industrial supply chain. With the EV market poised for significant growth, this partnership is well-timed to capitalize on emerging opportunities while contributing to a sustainable future.”

Dr. James Widmer, Co-Founder and CEO of Advanced Electric Machines, stated, “India’s automotive and zero-emission manufacturing market offers immense potential for growth and innovation. Through our partnership with Sterling Tools, we are bringing our proven expertise in magnet-free motors to Indian customers across a wide range of vehicle categories. Together, we can create high-quality powertrain solutions that cater to India’s growing need to reduce its tailpipe emissions, while also supporting the country’s self-reliance and sustainability goals. This agreement is a culmination of a strong relationship between the two companies, and we have worked with SGEM over several years to understand the Indian market and develop the local supply chain. We are now ready to hit the ground running and to contribute to India’s quest for sustainability.”

Also read: Sterling Tools and GLVAC partner to manufacture HVDC components for EVs in India