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Servotech Power Systems to Establish 5,000 EV Charging Stations Across India

The company is set to venture into the EV Charge Point Operator (CPO) business through its newly incorporated subsidiary, Servotech EV Infra.

November 17, 2023. By News Bureau

In a strategic move to capitalize on the anticipated growth in the electric vehicle (EV) market, Servotech Power Systems unveiled plans to deploy 5,000 EV-charging stations across the country.

The company is set to venture into the EV Charge Point Operator (CPO) business through its newly incorporated subsidiary, Servotech EV Infra.

Servotech EV Infra will act as the Charge Point Operator for the 5,000 EV chargers, handling the manufacturing and supply aspects. The decision to foray into the EV CPO business aligns with the company's vision to actively participate in the evolving EV infrastructure landscape, driven by the Indian government's target of making 30 percent of all vehicles electric by 2030.

Commenting on the strategic move, Raman Bhatia, Founder and Managing Director of Servotech Power Systems, emphasized the company's commitment to being a key player in advancing EV infrastructure. He stated, "This will prove to be a significant game-changer. The expansion into the EV CPO business with Servotech EV Infra reflects our dedication to playing an important role in advancing the EV infrastructure landscape, catering to the growing number of EVs in the country."

Servotech Power Systems is set to invest INR 300 crore in establishing an EV charger manufacturing plant in Uttar Pradesh under the Uttar Pradesh Electric Vehicle Manufacturing and Mobility Policy 2022. This move is expected to enhance the company's production capabilities and contribute to the realisation of the government's vision for a sustainable and eco-friendly transportation ecosystem.

The establishment of the manufacturing plant in Uttar Pradesh further solidifies the company's commitment to supporting the transition towards electric mobility in India.

Tags:

Sustainable Transport

Servotech Power Systems Limited

charging stations

Electric Vehicles

EV Charge Point Operator

Servotech EV Infra

EV Infrastructure

Transportation