SGEM’s current product portfolio covers a gamut of applications ranging from 1kW to 200kW as well as from 48V to 700V.
In India, the electric bug is catching on fast and two- as well as three-wheeler makers seem to be the ones latching onto this. Sterling Gtake E-mobility Ltd (SGEM) claims that they have received an order for Rs 60 crore worth of motor controller units. SGEM is unwilling to disclose the name of the electric two-wheeler manufacturer but given the size of the order, it could be someone like Hero Electric or TVS. SGEM’s current product portfolio covers a gamut of applications ranging from 1kW to 200kW as well as from 48V to 700V. With the aforementioned contracted business commencing next month, SGEM says that it might emerge as the largest domestic supplier of MCUs by the end of this year. SGEM also claims that it is in talks with other electric two-wheeler players. An advanced stage of discussion is also on with three-wheelers, passenger vehicles and commercial vehicles. The company expects to see exponential growth in the demand for this product in the future.
Anil Aggarwal, Managing Director, Sterling Tools Ltd., said, “We are delighted that our investment and efforts over the last 3 years have begun paying dividends. We had the courage to invest in the EV segment at an early stage, and therefore, we are ideally positioned today to take advantage of the increasing customer interest in EVs.”
He further added that by the end of the current fiscal year, the company expects EV components to contribute more than 10 per cent of Sterling’s revenues. SGEM is a part of the Sterling Tools Group, a company that is reputed in making cold-forged hi-tensile fasteners. The company has been in India for over four decades. With electrification of vehicles coming in, STL partnered with Jiangsu Gtake Electric Co. Ltd, a leading EV/HEV motor controller manufacturer to support Indian EV OEMs with leading-edge-technology products.
Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs,
calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.