Company targets ₹450 crore revenue by FY30 through local production of electric vehicle chargers and converters
15 Sep 2025 | 4150 Views | By Angitha Suresh
Sterling Tools Limited announced a partnership with China's Landworld Technology Co. Ltd. to manufacture electric vehicle components in India. The collaboration will produce on-board chargers, DC/DC converters, and multi-function units at Sterling's facility in Faridabad.
The partnership operates through Sterling Gtake E-Mobility Limited (SGEM), a subsidiary of Sterling Tools. ...
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Sterling Tools Limited announced a partnership with China's Landworld Technology Co. Ltd. to manufacture electric vehicle components in India. The collaboration will produce on-board chargers, DC/DC converters, and multi-function units at Sterling's facility in Faridabad.
The partnership operates through Sterling Gtake E-Mobility Limited (SGEM), a subsidiary of Sterling Tools. The company projects the venture will generate ₹450 crore in revenue by fiscal year 2030, targeting a market segment expected to reach ₹3,000 crore.
Sterling Tools will manufacture the components at its existing EV campus in Faridabad under technology license and supply agreements with Landworld. The products serve the electrification needs of both passenger and commercial vehicles.
On-board chargers enable vehicles to connect to AC power sources and regulate voltage and current for battery charging. DC/DC converters reduce battery pack voltage to levels required by vehicle auxiliary systems. Multi-function units combine these components with power distribution units.
Anil Aggarwal, Chairman of Sterling Tools Limited, stated the partnership expands the company's offerings beyond motor control units and powertrain platforms. He noted that EV subsystems are increasingly being consolidated into multi-function units.
Lin Chen, Vice General Manager of Landworld Technology, described India's EV market as having potential for growth. The Chinese company brings expertise in on-board chargers and DC/DC converters to serve Indian customers across vehicle categories.
Sterling Tools Limited, incorporated in 1979, manufactures automotive fasteners for passenger cars, two-wheelers, commercial vehicles, and construction equipment. The company entered the electric vehicle component sector through SGEM, which has technology licensing agreements with firms in China and the United Kingdom.
Landworld Technology Co. Ltd., established in 2013 and located in Shenzhen, supplies components to manufacturers including BYD, Dongfeng, Geely, Stellantis, and Volkswagen. The company employs over 350 people, with 150 working in research and development.
The partnership aligns with India's import substitution goals and the Make in India initiative. Sterling aims to reduce dependence on imports while building a domestic supply chain for electric vehicle components.