Sterling Tools has signed an agreement with Kunshan GLVAC Yuantong New Energy Technology

Founded in 1979, we are a reliable supplier of a broad range of fasteners to major OEMs in South America, Europe, India, the USA, and the Middle East. With a strong market position and an emphasis on operational integrity and precision, we provide a wide range of products, including standard chassis and special engine fasteners, to meet the needs of all of our clients, which include major automotive brands.

Sterling Tools Limited and GLVAC YT’s collaboration

Kunshan GLVAC Yuantong New Energy Technology Co., Ltd. (GLVAC YT), a division of Kunshan GLVAC in China, has partnered with Sterling Tools Limited. Sterling Tools wants to localize the production of sophisticated High Voltage Direct Current (HVDC) contactors and relays in India through its wholly-owned subsidiary Sterling Tech-Mobility Limited. These components are crucial for controlling current flow in electric and hybrid vehicles.

Sterling Tools believes that by FY30, this collaboration could bring in about Rs. 250 crore. The company intends to invest an estimated Rs. 40 crore to build a new manufacturing facility in Bengaluru to support this. By producing these parts locally, Sterling Tools hopes to create a localized ecosystem for the electric and hybrid vehicle industries while providing access to cutting-edge technology to Indian OEMs, Tier-1 suppliers, and other businesses.

Sterling Tools Limited Director Anish Agarwal said

Anish Agarwal emphasized the significance of incorporating cutting-edge safety features into the growing markets for electric and hybrid vehicles. He emphasized Sterling Tools’ dedication to enhancing EV and HEV system safety. He went on to say that the new Bengaluru facility’s production of HVDC contactors and relays will increase the availability and affordability of these parts for Indian OEMs and Tier-1 suppliers.

The general manager of GLVAC YT, Li Qinghua, stated

India is a significant market, according to Li Qinghua, who also stated that the partnership with Sterling Tools supports the nation’s efforts to promote electric mobility. The collaboration intends to supply premium EV components to the Indian market by fusing Sterling’s manufacturing skills with GLVAC’s technical know-how, thereby promoting a sustainable future for the EV sector.

The stock of Sterling Tools Ltd. is rising today

The stock of Sterling Tools Ltd. is currently trading at Rs. 560.00 per share, with a high of Rs. 575.00.

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