Sterling Gtake E-Mobility
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Sterling Gtake E-Mobility will supply EV parts to Electric 3W and LCV customers from FY23.

SGEM is in discussions with 30 EV OEMs for their MCU requirements for different vehicle segments.

Sterling Gtake E-Mobility is aiming to emerge as the largest domestic supplier of MCUs and other EV powertrain components. SGEM’s product portfolio covers the entire spectrum of applications from 1 KW to 200 KW and 48V to 700V.

In July 2021, it bagged an order worth Rs 600 million from a leading electric two-wheeler maker for high-speed electric two-wheeler application and has also secured a follow-up order for Rs 1 billion from the same customer. It has also secured orders from 10 other EV OEMs. The order book, as of date, stands at Rs 1.75 billion, all of which will be executed in FY23.
The company is in the advanced stages of discussions with an additional 30 automobile (EV) OEMs for their MCU requirements for different vehicle segments.
Currently, the company’s production supplies are to electric scooter manufacturers. In FY23, the company will also start production supplies to Electric 3W, motorcycle, and LCV customers.

SGEM also announced its revenue for the quarter. Its revenue for Q4 FY22 stood at Rs 309 million, registering a monthly run rate of Rs 100 million.
Total revenue for the year ended March 31, 2022, stood at Rs 384 million.

Official statement

Commenting on the Company’s performance, Mr. Anil Aggarwal, Chairman & MD of Sterling Group, said: We are elated with the performance of our EV venture – Sterling Gtake. From a standing start in the IIIQ of FY22, we have now achieved a run rate of ~Rs 150 million per month. And within months of starting production, we have gone from a CKD operation to localizing all possible components and processes. At a group level, Electronics and Electric Vehicle component revenues have gone from zero in FY21 to 10% in FY22 and will hopefully go up to ~30% in FY23. We have been able to achieve this growth due to the undeterred determination of our team and will continue to stay steadfast to our goals in the future. Being one of the pioneers in the Indian EV industry, we are well placed to provide for the rising demand in this sector. Looking forward, we aim to expand further and emerge as the largest domestic supplier of MCUs and other EV powertrain components on the back of our commitment to our core principles - customer-centricity, productivity, and sustainability.

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