India's Sterling Tools rises on foray into manufacturing traction motors for EVs

Sterling Tools

14/05/2025 09:17

** Automotive components manufacturer Sterling Tools STTL.NS rises 4% to 308.75 rupees

** Co forays into development and manufacturing of rare earth magnet free traction motors for electric vehicles

** Signs technology licensing agreement with Advanced Electric Machines UK to manufacture these

** Magnet free motors offer similar performance without size or weight penalty, offer an alternative to China-dependent supply chains, co says

** With session's gains, STTL shares trim 12-month decline to ~17%

 (Reporting by Ananta Agarwal in Bengaluru)

 ((Ananta.Agarwal@thomsonreuters.com))