Servotech Power Systems Ltd., a prominent player in India’s EV charging sector, recently unveiled a strategic initiative aimed at enhancing the country’s self-reliance in critical components for EV chargers. To realize this objective, Servotech has inked a significant technical collaboration agreement with a renowned international firm.
Servotech Power Systems, listed on the NSE, specializes in developing technologically advanced EV charging solutions, drawing on over twenty years of experience and expertise in electronics. Our product range includes a wide variety of AC and DC chargers that are compatible with various types of electric vehicles, catering to both commercial and residential needs.
Leveraging our robust engineering capabilities, we aim to play a pivotal role in shaping India’s EV technology infrastructure. As a trusted brand with a strong presence across India, we have a legacy built on innovative products, including high-end LED lighting, UV-C disinfection products, and medical-grade oxygen concentrators.
The company is also in the process of establishing an advanced manufacturing facility dedicated to producing Power Modules, Control Circuits, and PLCs – key components crucial for the operation of EV chargers. This strategic move represents a significant departure from dependence on imports and underscores India’s emergence as a pivotal player in the global supply chain for EV chargers.
Servotech Power Systems Ltd. has unveiled plans for a new plant with an initial annual production capacity of 24,000 power modules, with a vision to scale up to 2.4 lakh units per year. This expansion aims to meet the rising demand in the Indian electric vehicle (EV) market, which is expected to reach approximately 6 lakh units annually. This strategic approach underscores Servotech’s determination to secure a considerable portion of the burgeoning EV charging sector.
Arun Handa, the Chief Technical Officer at Servotech Power Systems Ltd., remarked, “Our objective is to position Servotech as the preferred supplier of EV chargers and the preferred OEM supplier of power modules for Indian EV charger manufacturers. By establishing a strong domestic supply chain, we are contributing to the overall growth of the EV ecosystem, making charging solutions more cost-effective and accessible to a broader audience.”
In a significant development, Servotech Power Systems Ltd. announces the anticipated full operationalization of its new plant by December 2024. This milestone is poised to bring forth a series of benefits, including a reduced dependency on imported components, the creation of a multitude of high-skilled job opportunities within India, and a notable boost to the economic growth in the technology sector.
Moreover, this strategic investment is expected to play a pivotal role in advancing India’s electric vehicle (EV) charging capabilities, aligning perfectly with Servotech Power Systems Ltd.’s steadfast commitment to lead India’s transition towards clean energy solutions. By bolstering indigenous manufacturing, the company aims to reinforce its dedication to offering reliable, cost-effective, and easily accessible EV charging solutions nationwide.
