Servotech Power Systems, a leading player in the energy sector, has announced a major initiative to install 5,000 EV-charging stations across the country. The company has established a subsidiary, Servotech EV Infra, which will operate as a Charge Point Operator (CPO) for these EV chargers.
“This move represents our entry into the EV CPO business, with Servotech EV Infra serving as the primary entity for the manufacturing and supply of EV chargers,” stated the company.
The decision to venture into the EV charging market comes as the government sets ambitious targets for the adoption of electric vehicles, with a goal of 30 per cent of all vehicles being electric 2030. Servotech Power Systems sees this as a significant growth opportunity and aims to capitalize on its expertise and track record in EV charging technology.
Founder and Managing Director of Servotech Power Systems, Raman Bhatia, expressed confidence in the company’s new direction, stating, “This expansion into the EV CPO business reflects our commitment to supporting the growing number of EVs in the country and playing a key role in advancing the EV infrastructure landscape.”
In line with its strategic vision, Servotech Power Systems will be investing Rs 300 crore to establish an EV charger manufacturing plant in Uttar Pradesh, under the Uttar Pradesh Electric Vehicle Manufacturing and Mobility Policy 2022. This investment underscores the company’s dedication to driving innovation and leading the charge in the evolving EV sector.