Sterlings Tools-led MCUs manufacturer bags order worth Rs60cr from leading 2-wheeler EV OEM

With the contracted business commencing next month, the SGEM targets to emerge as the largest domestic supplier of MCUs by end of 2021.

Jul 22, 2021 04:07 IST India Infoline News Service

Sterling Tools, NCR-based motor control units (MCUs) manufacturer for electric vehicles, Sterling Gtake E-mobility (SGEM) has secured an order aggregating to Rs60cr for MCUs from a leading two-wheeler EV OEM.

Anil Agarwal, MD said, "We had the courage to invest in the EV segment at an early stage, and therefore we are ideally positioned today to take advantage of the increasing customer interest in EVs."

With the contracted business commencing next month, the SGEM targets to emerge as the largest domestic supplier of MCUs by end of 2021.

Sterling Tools is also in an advanced stage of discussions with over 20 automobile OEMs for their MCU requirements for different vehicle segments, including 2-wheelers, 3-wheelers, passenger vehicles and commercial vehicles, The company expects to see exponential growth in the demand for this product in the future.

On Sensex, Sterling Tools finished at Rs205.80 per piece up by 2.3%. 

Related Story

Open Free Demat Account (Rs699)