Sterling Tools Limited (BSE: 530759; NSE: STERTOOLS), India’s second-largest automotive fastener manufacturer, has announced a partnership with China’s Kunshan GLVAC Yuantong New Energy Technology Co., Ltd. (GLVAC YT) to locally manufacture advanced High Voltage Direct Current (HVDC) contactors and relays for electric and hybrid vehicles (EVs and HEVs) in India. This collaboration, facilitated through Sterling’s wholly owned subsidiary Sterling Tech-Mobility Limited, marks a significant step in localizing critical EV components and supporting the “Make in India” initiative.
With an investment of ₹40 crore, Sterling will establish a new manufacturing facility in Bengaluru, aiming to generate ₹250 crore in revenue from this venture by FY30. The facility will enable Sterling to manufacture HVDC contactors and relays, essential components that control high-voltage current flow in EV power circuits. By ensuring safe switching and isolation of electrical currents, these devices protect against electrical faults, prevent hazards like fires, and maintain overall vehicle safety.
Domestic OEMs, Tier-1 companies, and other suppliers will benefit from easier access to high-quality, cost-effective HVDC contactors and relays, crucial for the growth of India’s EV sector.
Sterling Tools has been expanding its EV portfolio since 2020, with subsidiaries like Sterling Gtake E-Mobility Ltd. (SGEM) providing localized Motor Control Units (MCUs) for EV powertrains. This partnership with GLVAC YT further strengthens Sterling’s presence in the EV supply chain.