Sterling Tools Limited — Important, 14-05-2025: Agreements

Sterling Tools, via its subsidiary Sterling Gtake E-Mobility Ltd, has entered a Technology Licensing Agreement with UK’s Advanced Electric Machines to produce and market Magnet Free traction motors for EVs at its Faridabad plant. The deal grants exclusive rights in India with no upfront fees; royalties will be paid on sales. This collaboration boosts import substitution and enhances India’s EV supply chain, positioning Sterling strongly in the growing electric vehicle market.