Chennai, Sept. 15 -- Automotive component maker Sterling Tools Ltd today said its subsidiary Sterling Gtake E-Mobility Ltd (SGEM) is foraying into electric vehicle (EV) on-board chargers and DC/DC (DC-direct current) converters for EVs.
SGEM has signed Technology License and Supply agreements with Landworld Technology Co. Ltd., China to locally manufacture On-board Chargers, DC/DC convertors and Multi-Function Units (incorporating On-Board Chargers, DC/DC converters as well as Power Distribution Units -PDU), the Sterling Tools said.
The company will manufacture these units at its EV campus in Faridabad.
The partnership is expected to generate around Rs. 450 crores in business by FY'30 in a market segment that is projected to reach Rs.3,0...