Sterling
Gtake E-mobility Ltd (SGEM), NCR-based motor control units (MCUs) manufacturer
for electric vehicles has announced that it has secured an order worth Rs 60
crore for MCUs from a leading 2W EV OEM.
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.”
Aggarwal
further added that by the end of the current fiscal year, he expects EV
components to contribute more than 10% of Sterling’s revenues.
Rising
EV adoption has created an immediate requirement to embrace the next-generation
needs of the auto industry, with green technologies and e-mobility ecosystems
promising to infuse sustainability and performance in the vehicles of tomorrow.
SGEM has been consistently focussing on identifying partners and driving
technology transfer and localization to provide customers with application
support and technology adapted to Indian requirements.
SGEM’s
product portfolio covers the entire spectrum of applications from 1 KW to 200
KW and 48V to 700V. With the contracted business commencing from next month,
SGEM aims to emerge as the largest domestic supplier of MCUs by the end of
2021.
The
company is in advanced stages of discussions with more than 20 automobile (EV)
OEMs for their MCU requirements for different vehicle segments, including
two-wheelers, three-wheelers, passenger vehicles and commercial vehicles and
expect to see an exponential growth in the demand for this product in the
future.