Sterling Tools Ltd signs an MoU with Yongin Electronics, a Hyundai Kia supplier, to set up a greenfield manufacturing facility and expand EV and automotive capabilities.
Sterling Tools Ltd has signed an MoU with South Korea's Yongin Electronics Co. Ltd., a Hyundai Kia Motor Group supplier. This deal is expected to generate $33.5m in business over the next five years. Sterling Tools will set up a greenfield manufacturing facility. The MoU enhances Sterling's EV and automotive capabilities, incorporating Yongin's latest technology. This marks a crucial step in advancing EV and electronic component production in India.
April 18, 2024
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