Sterling Tools Limited, through its subsidiary Sterling Tech-Mobility Limited, has entered into a strategic partnership with Kunshan GLVAC Yuantong New Energy Technology Co., Ltd. (GLVAC YT) to produce High Voltage Direct Current (HVDC) contactors and relays in India. This collaboration aims to combine Sterling Tools' manufacturing prowess with GLVAC YT's technological expertise to cater to the growing demand for EV components in the Indian market. The partnership is projected to generate INR 250 crore in business by FY30, with an investment of approximately INR 40 crore to establish a new facility in Bengaluru.
“As the electric and hybrid vehicle markets continue to expand, it is crucial that we integrate the highest safety measures in these vehicles through advanced technological systems. At Sterling Tools, we recognize these concerns and are committed to enhancing safety in the EV and HEV segments. This association underscores our dedication to the safety of high voltage battery and power electronic systems and contributes to the Government of India's Make in India initiative. Our new Bengaluru facility will manufacture advanced HVDC contactors and relays, making them more affordable and accessible for OEMs and Tier-1 companies,” a Sterling Tools representative stated.
Supporting the Make in India Initiative
This partnership is designed to capitalize on the expanding electric and hybrid vehicle markets in India while supporting the Make in India initiative. By manufacturing advanced HVDC contactors and relays domestically, Sterling Tools aims to strengthen India's EV supply chain and reduce dependence on imports.
HVDC contactors and relays are essential for managing high-voltage electricity flow in electric and hybrid vehicles, ensuring efficient operation and safety. These components regulate the flow of electricity between the battery, motor controller or inverter, and other power electronic systems, protecting against electrical faults and hazards.
Li Qinghua, General Manager of GLVAC YT, expressed, "India is a vital market for us, and our partnership with Sterling Tools Limited positions us to reinforce the EV and HEV sectors in the country. As a significant player in EV components, we recognize India's tremendous potential in the electric vehicle market. This collaboration merges our technological prowess with Sterling's manufacturing excellence to deliver high-quality, essential EV components to the Indian market. We view this partnership as a crucial step toward supporting the country’s electric mobility journey. Together, we aim to drive meaningful advancements in the EV components landscape, contributing to a more sustainable future."
This collaboration marks a significant milestone in the journey towards sustainable and advanced electric mobility in India, promising to deliver innovative and reliable EV components to meet the growing market demands.
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