2 weeks Ago
Mumbai: Sterling Tech-Mobility Ltd on Monday said it will set up a manufacturing facility in collaboration with Chinese firm Kunshan GLVAC Yuantong New Energy Technology for advance high-voltage DC contactors and relays for electric and hybrid vehicles in Bengaluru at an investment of Rs 40 crore. The collaboration, which is aimed at the domestic production of these auto parts, is expected to generate Rs 250 crore in business by FY30 and Sterling Tools will bring the niche technology to manufacture and assemble HVDC contactors and relays locally at a new facility in Bengaluru, a release said. US Election 2024 US Election Result Live Updates Swing state results deciding who'll be new POTUS Trump vs Harris: Who’s winning which state? Full list Sterling Tech-Mobility Limited is a wholly-owned subsidiary of Sterling Tools while GLVACYT is 100 per cent-owned by Kunshan GuoLi Electronic Technology Co Ltd.
The development will empower Indian OEMs, tier-I companies, and other suppliers to access advanced technology right at home, building a self-reliant ecosystem for the electric vehicles (EV) and hybrid electric vehicles (HEV) sectors, the company said. "As the electric and hybrid vehicle markets continue to expand, it is important that we integrate the highest safety measures in the electric and hybrid vehicles through advance technological systems. We will manufacture advanced HVDC contactors and relays at our new Bengaluru facility, making them more affordable and accessible for OEMs and tier-1 companies," said Anish Agarwal , Director at Sterling Tools Limited.
HVDC contactors and relays are crucial components in electric and hybrid vehicles, managing and controlling high-voltage electricity flow between the battery, motor controller or inverter, and other power electronic systems. Artificial Intelligence(AI) ChatGPT Mastery from Zero to Hero: The Complete AI Course By - Metla Sudha Sekhar, IT Specialist and Developer View Program Office Productivity Zero to Hero in Microsoft Excel: Complete Excel guide 2024 By - Metla Sudha Sekhar, IT Specialist and Developer View Program Artificial Intelligence(AI) Tabnine AI Masterclass: Optimize Your Coding Efficiency By - Metla Sudha Sekhar, IT Specialist and Developer View Program Web Development JavaScript Essentials: Unlock AI-Driven Insights with ChatGPT By - Metla Sudha Sekhar, IT Specialist and Developer View Program Artificial Intelligence(AI) AI-Powered Python Mastery with Tabnine: Boost Your Coding Skills By - Metla Sudha Sekhar, IT Specialist and Developer View Program Web Development Advanced C++ Mastery: OOPs and Template Techniques By - Metla Sudha Sekhar, IT Specialist and Developer View Program Artificial Intelligence(AI) Mastering C++ Fundamentals with Generative AI: A Hands-On By - Metla Sudha Sekhar, IT Specialist and Developer View Program Marketing Modern Marketing Masterclass by Seth Godin By - Seth Godin, Former dot com Business Executive and Best Selling Author View Program Marketing Performance Marketing for eCommerce Brands By - Zafer Mukeri, Founder- Inara Marketers View Program Finance Financial Literacy for Non-Finance Executives By - CA Raja, Chartered Accountant | Financial Management Educator | Former AVP - Credit, SBI View Program Strategy ESG and Business Sustainability Strategy By - Vipul Arora, Partner, ESG & Climate Solutions at Sattva Consulting Author I Speaker I Thought Leader View Program HR Human Potential and the Future of Employment By - Lynda Gratton, Prof. at London Business School, Speaker, Author, Global Thought Leader View Program Web Development Advanced Java Mastery: Object-Oriented Programming Techniques By - Metla Sudha Sekhar, IT Specialist and Developer View Program Finance Financial Literacy i.
e Lets Crack the Billionaire Code By - CA Rahul Gupta, CA with 10+ years of experience and Accounting Educator View Program Astrology Vastu Shastra Course By - Sachenkumar Rai, Vastu Shashtri View Program Web Development Intermediate C++ Skills: Master Pointers, Structures and File Stream By - Metla Sudha Sekhar, IT Specialist and Developer View Program Artificial Intelligence(AI) AI and Analytics based Business Strategy By - Tanusree De, Managing Director- Accenture Technology Lead, Trustworthy AI Center of Excellence: ATCI View Program Leadership Business Storytelling Masterclass By - Ameen Haque, Founder of Storywallahs View Program Marketing Digital Marketing Masterclass by Pam Moore By - Pam Moore, Digital Transformation and Social Media Expert View Program These components provide safe switching and isolation in EV power circuits, ensuring efficient operation while protecting against electrical faults. In the event of accidents or short circuits, these help to prevent hazards such as fires or explosions, according to the company. "India is an important market for us, and through our association with Sterling Tools Limited, we are poised to strengthen the EV and HEV sectors in India.
As a key player in EV components, we recognize India's immense potential in the electric vehicle market," said Li Qinghua, General Manager at GLVAC YT. Nominations for ET MSME Awards are now open. The last day to apply is November 30, 2024.
Click here to submit your entry for any one or more of the 22 categories and stand a chance to win a prestigious award. (You can now subscribe to our Economic Times WhatsApp channel ).
