The NCR-based EV motor control unit (MCU) manufacturer Sterling Gtake E-mobility Ltd (SGEM) has secured an order worth INR 60 crore from a leading 2W EV OEM to supply MCUs.
Part of the Sterling Tools Group, the company is also in the advanced stages of discussions with several OEMs for their MCU requirements for different vehicle segments, including 2W, 3W, passenger vehicles, and commercial vehicles. As a result, it expects exponential growth in the demand for this product in the future.
According to the company, the 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 consistently focused on identifying partners and driving technology transfer and localisation to provide customers with application support and technology adapted to local requirements.
SGEM’s product portfolio currently covers the entire spectrum of applications from 1KW to 200 KW and 48V to 700V. With the contracted business commencing next month, the company aims to emerge as the largest domestic supplier of MCUs by the end of 2021.
Anil Aggarwal, Managing Director, Sterling Tools, said that due to the investments made in the EV segment at an early stage, the company is ideally positioned today to take advantage of the increasing customer interest in EVs. By the end of the current fiscal year, he expects EV components to contribute more than 10% of Sterling’s revenues.