Sterling Gtake E-Mobility Ltd Forays into E-LCV Business

Faridabad, Haryana, India Business Wire India Sterling Gtake E-Mobility SGEM, a 100 subsidiary of Sterling Tools Limited BSE 530759 NSE STERTOOLS today announced its foray into E-LCV segment. About Sterling Gtake E-Mobility Ltd SGEM Jiangsu Gtake Electric Co. Ltd.SGEM is a Joint Venture between Sterling Tools Ltd., one of leading automotive fasteners manufacturers in India and Jiangsu Gtake Electric Co. Ltd., China.

Faridabad, Haryana, India – Business Wire India Sterling Gtake E-Mobility (SGEM), a 100% subsidiary of Sterling Tools Limited (BSE: 530759; NSE: STERTOOLS) today announced its foray into E-LCV segment. With this development, SGEM continues to grow its presence across various E-mobility segments. Starting with supplies to a single Electric 2W customer a year back, the company now has confirmed orders from more than 10 customers.

Earlier this month the Company was awarded business by India's leading Commercial Vehicle OEM for its E-LCV (Electric Light Commercial Vehicle) program. The supplies for this program are expected to commence during the last quarter of the current financial year.

"This 'win' will help SGEM to diversify the customer base across different vehicle segments and would broaden the technical expertise of the SGEM team over various applications," commented Mr. Anil Aggarwal, MD, Sterling Group. About Sterling Gtake E-Mobility Ltd (SGEM) & Jiangsu Gtake Electric Co. Ltd.

SGEM is a Joint Venture between Sterling Tools Ltd., one of leading automotive fasteners manufacturers in India and Jiangsu Gtake Electric Co. Ltd., China. SGEM has been at the forefront of EV value chain by offering localized Motor Control Units (MCUs) for Battery & Hybrid Electric Vehicles in India.

The core engineering team of Jiangsu Gtake is from Huawei and has extensive motor control as well as power electronics experience. With 30% of the workforce involved in R&D and strict adherence to quality control standards, the company has been able to consolidate its leadership in EV MCUs /inverters and has a leading market position in the Electric Commercial Vehicle space in China.

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