Delhi NCR-based automotive component manufacturer Sterling Tools, through its subsidiary Sterling Gtake, has inked a technology licensing agreement with Advanced Electric Machines (AEM), UK to enter the electric vehicle motor market.

As per the understanding, Sterling Gtake will develop, manufacture and market Rare Earth Magnet-Free traction motors for EVs in India.

The component supplier stated that by introducing a mature and commercially viable rare earth magnet-free technology, it will be able to offer its customers an alternative to the China dependent permanent magnet supply chain. 

It expects that the traction motors market will to grow to around INR 150 billion by 2030. Furthermore, Sterling Gtake will also explore joint development of integrated motor and controller solutions. 

Anil Aggarwal, Chairman, Sterling Tools, 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 capitalise on emerging opportunities while contributing to a sustainable future.”

Dr. James Widmer, Co-Founder & Chief Executive Officer, 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.”

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Aligarh-headquartered automotive component maker Pavna Industries is forming a a 80:20 joint venture with Taiwan-based SmartChip Microelectronic Corporation (SMC).

As per the understanding, Pavna will undertake and carry on the business of inter-alia making electronic components for the automobile industry (ICE & EV) and other industries, including hardware for residential/commercial industries, aero and medical, among others in India.

The JV will leverage Pavna’s operational, manufacturing and procurement expertise, as well as its deep understanding of the Indian automotive market, to oversee and manage the operations in India.

On the other hand, SMC will contribute its present and future technical skills, innovations and R&D capabilities in automotive e-lock systems, EV components like motor controller, throttle body, dashboard for two-wheeler & three-wheeler, EV charging piles and e-locking solutions for residential and commercial applications. SMC’s engineering and product development expertise will ensure the JV remains technologically advanced and globally competitive.

Swapnil Jain, Managing Director, Pavna Industries, sai,d "This strategic partnership is an important milestone on our path to emerging as a mobility solutions leader in advanced technologies. By merging Pavna's manufacturing and market capabilities with SMC's state-of-the-art electronics knowledge, we expect to speed up the penetration of EV technologies in India as well as grow into new high-growth markets. With this partnership, we will also further enhance our capacity to serve domestic and global markets with innovative, dependable, and sustainable solutions."

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Gulf Oil Lubricants India Limited, a Hinduja Group company, has announced its unaudited financial results for the quarter ended 30 June 2025, reporting its highest-ever quarterly volume, revenue, and EBITDA. The company achieved double-digit volume growth, which was more than three times the industry growth rate. Consolidated quarterly revenue exceeded INR 10 billion for the first time.

On a standalone basis, the company's revenue from operations was INR 9.96 billion, a 12.57 percent increase YoY, with a Profit After Tax of INR 9.6 billion, up 9.81 percent YoY. Consolidated revenue reached INR 1.01 billion, an increase of 13.69 percent YoY and PAT grew by 12.90 percent to INR 951.7 billion, . The company's EV charger subsidiary, Tirex, also saw significant growth, with its revenue for the quarter increasing by over 163 percent.

Strategic Developments and Outlook

The Board of Directors has approved an INR 550 million capital expenditure (Capex) plan to increase manufacturing capacity by 70 percent, from 140 million litres to 240 million litres. This expansion will be spread over two years and is a key strategic initiative to support the company’s growth ambitions. The Silvassa plant's capacity will increase by 55 percent to 140 million litres, while the Chennai plant's capacity will double to 100 million litres.

Ravi Chawla, Managing Director and CEO, Gulf Oil, said, “The year began on a strong note, delivering yet another market leading performance achieving double-digit volume growth of 11% during the quarter, clearly over 3x the industry growth rate. This underscores the strength of our brand and continued trust of our consumers. Our EV charger subsidiary, Tirex, continued to perform well and closed the quarter with over 163 percent growth in topline catering to broader customer base."

Manish Gangwal, CFO, Gulf Oil, added, "We are quite excited to see our consolidated revenue crossing INR 10 billion as we concluded the quarter with highest-ever volume, revenue and EBITDA, driven by strong strategic execution resulting in profitable, volume-led growth.” He also noted that the company's operating profit for the quarter was Rs. 126.58 crores, a growth of 8.9% over the same period last year.

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Minda Corporation, the flagship company of tier 1 supplier Spark Minda, has announced its financial results for Q1 FY2026 with revenue of INR 13.86 billion, up 16.2 percent YoY, EBITDA of INR 1.56 billion, EBITDA margin of 11.3 percent and a net profit growth of 4.7 percent at INR 650 million.

The tier 1 supplier attributes the growth to its strong product portfolio, expanding customer base and a focus on product premiumisation.

During the period, Minda Corporation also entered into an agreement with Toyodenso to establish a 60:40 joint venture in India for manufacturing and selling of advanced automotive switches.

It aims to provide end-to end solutions for automotive switches across two-wheelers, passenger cars and other automotive segments in India. The new JV has already received orders from customers in India with a greenfield plant to be set up in Noida. The operations are expected to commence in H2 of FY2027.

Furthermore, Minda Corporation also inked a collaboration with Qualcomm to co-develop Smart Cockpit Solutions.

Ashok Minda, Chairman and Group CEO, Minda Corporation, said, “The first quarter of FY26 witnessed a strong performance, supported by resilient demand across key vehicle segments. Leveraging our focus on operational excellence, technology integration, and customer-centric initiatives, we continued to strengthen our market position. As we progress through the year, we remain focused on expanding our market reach, enhancing exports, and delivering sustainable value to our stakeholders through consistent execution and strategic initiatives.”

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American tier 1 supplier BorgWarner has announced that it has bagged a new order from a major Chinese original equipment manufacturer (OEM) for its electric motors.

As per the understanding, BorgWarner will supply a platform-based design, compatible across a full range of NEV applications, including battery electric and hybrid models. It also incorporates BorgWarner’s innovative ultra-short hairpin welding process, which reduces end-turn height for a more compact structure and significantly improves space utilisation.       

Dr Stefan Demmerle, Vice-President, BorgWarner Inc and president & General Manager, PowerDrive Systems, said, “We are pleased with the continued progress of our electric motor business in China. Our partnership with this customer spans nearly a decade. BorgWarner remains committed to delivering smarter, more efficient motor solutions as we work together toward an electrified future.”

Furthermore, to meet rising demand from the Chinese automotive industry, BorgWarner is expanding its motor operations and early this year it signed a MoU with the Wuhu municipal government to establish a new manufacturing base for electric drive systems.

Once on stream, the facility will feature intelligent manufacturing lines capable of producing multiple motor platforms on shared lines, increasing motor capacity and laying a solid foundation for scaled delivery.

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