Servotech Power Systems Ltd., a prominent electric vehicle (EV) charger manufacturer in India, has announced the establishment of a new wholly owned subsidiary, Techbec Green Energy Pvt. Ltd. This subsidiary aims to indigenously manufacture key components for EV chargers, contributing to India’s transition towards cleaner and greener energy solutions. The subsidiary will be equipped with a state-of-the-art manufacturing facility spanning 40,000 sq. ft. in Sonipat, Haryana, and will focus on producing essential EV charger components and lithium-ion batteries.
With an initial investment of ₹30 Crores, the company plans to procure advanced technology, testing equipment, machinery, and skilled manpower. Additionally, Servotech and its subsidiary plan to invest ₹300 Crores by March 2025 to achieve a prominent operational scale in the entire EV charging ecosystem. To streamline the corporate structure, Servotech will divest its stake of 63.5% in its existing subsidiary, Techbec Global Solutions Pvt. Ltd.
Servotech’s strategic decision to manufacture high-quality, locally made EV charger components aligns with its commitment to support the Make in India initiative. This move will strengthen the supply chain, reduce dependence on imports, and ensure the availability of safe, reliable, and cost-effective solutions for India’s rapidly expanding EV market.
Founder and MD of Servotech, Raman Bhatia, expressed his pleasure in announcing the establishment of Techbec Green Energy Pvt. Ltd. He highlighted the significant investment that will be allocated towards acquiring cutting-edge equipment, skilled workforce, and advanced technology to bolster the capabilities of the company and its subsidiary. This, in turn, will facilitate the widespread adoption of electric vehicles and contribute to the country’s sustainable transportation goals.
The subsidiary’s focus will be on manufacturing key EV charger components such as Power modules, CCS 2 guns, Type 2 guns, Connectors, Control Cards, and PLC Modules, alongside lithium-ion batteries. By manufacturing these components in-house, Servotech aims to enhance supply chain efficiency, drive local production, and deliver technologically advanced charging infrastructure to the rapidly growing EV user base.
Mr. Bhatia emphasized that their subsidiary’s team of experienced engineers and technicians will play a crucial role in this journey towards supporting the Make in India initiative. Their commitment to producing domestic EV charger components will further strengthen the nation’s clean energy ecosystem and pave the way for sustainable transportation solutions.
Regarding the successful divestment of Techbec Global Solutions Pvt. Ltd., which was involved in manufacturing battery storage solutions and other allied activities for EVs, E-rickshaws, and solar-powered solutions, Mr. Bhatia highlighted the management’s vision for future growth. The divestment allows Servotech to optimize its resources and pursue new opportunities aligned with its core business objectives.
Servotech Power Systems aims to cement its position as a key player in the clean energy ecosystem and drive the transition to sustainable transportation. Their innovative solutions and commitment to the Make in India initiative showcase their dedication to a cleaner and greener future for the country’s transportation sector.
