Sterling Tools

, through its subsidiary Sterling Gtake E-Mobility Ltd (SGEM), on Wednesday announced its entry into the manufacturing and marketing of rare earth

magnet-free traction motors

for

electric vehicles

. The Haryana-based company has signed a technology licensing agreement with

UK-based Advanced Electric Machines

(AEM) Ltd to produce these motors at its Faridabad plant, aiming to reduce reliance on China and bolster India's EV industrial supply chain.

SGEM will serve all segments of the traction motors market, which is expected to grow to approximately ₹15,000 crore by 2030. The company plans to expand local manufacturing of EV solutions, strengthening India's industrial supply chain.

Anil Aggarwal, Chairman of Sterling Tools, stated, "The diversification into rare earth magnet-free motors is in line with Sterling's ambition to develop Powertrain expertise to serve the Indian auto industry."

The partnership aims to create high-quality powertrain solutions that cater to India's growing need to reduce its tailpipe emissions, while also supporting the country's self-reliance and sustainability goals.

James Widmer, Co-founder and Chief Executive Officer of Advanced Electric Machines, said, "India's automotive and zero-emission manufacturing market offers immense potential for growth and innovation. Through our partnership with Sterling Tools, we are bringing our proven expertise in magnet-free motors to Indian customers across a wide range of vehicle categories."