On May 14, 2025, Sterling Tools, a BSE and NSE-listed automotive component manufacturer, launched Sterling Gtake (SGEM) to develop, produce, and market non-rare earth magnet traction motors for electric vehicles.
The company has entered into a technology licensing agreement with Advanced Electric Machines (AEM) Ltd, a UK-based company, to produce these motors at its Faridabad facility.
The patented technology from AEM will enable SGEM to provide customers with magnet-free motors that deliver superior performance without sacrificing weight or size.
By introducing a commercially viable Rare Earth Magnet-Free technology, SGEM hopes to provide an alternative to the permanent magnet supply chain, which is heavily reliant on China. This agreement will allow SGEM to serve all segments of the traction motors market, which is expected to reach around Rs 15,000 crore by 2030.
Sterling’s business strategy includes the collaborative development of integrated motor and controller solutions.
Sterling Tools’ intention to manufacture these motors locally is to promote import substitution and reduce reliance on permanent magnets, in line with the Atmanirbhar Bharat vision and the Make in India initiative.
This development will allow Indian companies and suppliers to gain access to advanced technology on a domestic scale, fostering a self-sufficient automotive ecosystem.
In remarks about the partnership, Anil Aggarwal, Chairman of Sterling Tools Limited, stated, “Sterling’s entry into the realm of Rare Earth Magnet-Free motors underscores the Group’s commitment to being a technology leader and an industry innovator.” We are transitioning from solely providing MCUs to becoming a comprehensive solution provider to meet the growing demand for advanced technology in the EV sector.”
The consolidation of EV subsystems into multifunctional units is on the rise, and Sterling plans to offer integrated motor and controller solutions to its customers, informed Aggarwal.
