- Introduces path breaking Magnet Free Motor technology to India
- Addresses concern due to permanent magnet supply disruptions
- The partnership will strengthen the Supply Chain for EV Components and support India’s localization and self-reliance goals
India, May 14, 2025: Sterling Tools Limited (BSE: 530759, NSE: STERTOOLS), one of the leading automotive component manufacturers in India and the market leader in Motor Control Units (MCUs) , has, through its Sterling Gtake (SGEM) subsidiary, forayed into the development, manufacturing and marketing of Rare Earth Magnet-Free traction motors for electric vehicles. The company has signed a Technology Licensing Agreement with Advanced Electric Machines (AEM) Ltd, UK to manufacture these motors at its plant in Faridabad. The patented AEM technology will enable SGEM to offer customers Magnet-Free motors that offer market-leading performance without any weight or size penalty.
By introducing a mature and commercially viable Rare Earth Magnet-Free technology, SGEM will offer its customers an alternative to the China dependent permanent magnet supply chain. Through this Technology Licensing Agreement, SGEM will serve all segments of the traction motors market that is expected to grow to approx. Rs 15,000cr by 2030. The business plan also calls for the joint development of integrated motor and controller solutions.
By producing these motors domestically, Sterling Tools aims to drive import substitution and reduce reliance on permanent magnets, aligning with the Atmanirbhar Bharat vision and supporting the Make in India initiative. The development will empower Indian companies and other suppliers to access advanced technology locally, building a self-reliant ecosystem for the auto industry.
Commenting on the partnership, Anil Aggarwal, Chairman, Sterling Tools Limited, said, “Sterling’s foray into Rare Earth Magnet-Free motors demonstrates the Group’s commitment to being a technology leader and an industry pioneer. We are expanding beyond MCUs to being a complete solution provider and meeting the EV Industry’s growing demand for advanced technology. EV sub-systems are being increasingly consolidated into multifunction units and Sterling will also offer our customers integrated motor and controller solutions. The Sterling Group will continue to extend excellent technical and application support to its customers to help drive greater adoption of EVs in India.
“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. Sterling Tools plans to further expand the local manufacturing of EV Solutions, strengthening India’s industrial supply chain. With the EV market poised for significant growth, this partnership is well-timed to capitalize on emerging opportunities while contributing to a sustainable future.”
Dr. James Widmer, Co-Founder & 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. Together, we can 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.
This agreement is a culmination of a strong relationship between the two companies, and we have worked with SGEM over several years to understand the Indian market and develop the local supply chain. We are now ready to hit the ground running and to contribute to India’s quest for sustainability.”
About Sterling Tools Limited
Incorporated in 1979, Sterling Tools Limited (STL) manufactures high tensile cold forged automotive fasteners, solutions catering to the passenger cars, two wheelers, commercial vehicles, agri-equipment and construction equipment segments. STL, through its subsidiary, has also successfully ventured into sunrise sectors such as Electric Vehicle (EV) components to ensure robust value creation for its stakeholders. The client portfolio comprises leading incumbent and start-up OEMs.
About Advanced Electric Machines Ltd.,
Advanced Electric Machines’ vision is to design and build the world’s most sustainable EV motors for the global automotive and transport sectors. It utilises its expertise in materials, manufacturing and design to ensure its solutions are not only more sustainable, but also more efficient and cost-effective. Based in the Northeast of England, Advanced Electric Machines Limited was founded in 2017, when it was spun out from Newcastle University’s world-class electric motor research team, led by AEM’s CEO, Dr James Widmer, and CTO, Dr Andy Steven. AEM technologies are covered by 46 international patents protecting their unique motor designs and manufacturing processes around the world.
