Servotech Power Systems Ltd., a prominent EV charger manufacturer in India, has clinched a substantial order for 1400 DC fast EV chargers from Indian Oil Corporation Limited (IOCL) and other EV charger OEMs. Valued at 111 crores, the order includes two charger variants rated at 60 kW and 120 kW.
Servotech Power Systems, a company listed on the NSE, specializes in developing cutting-edge EV charging solutions. Leveraging over twenty years of experience in the electronics industry, they offer a wide range of AC and DC chargers suitable for various types of electric vehicles and applications, including commercial and residential use.
With their advanced engineering capabilities, the company aims to play a crucial role in advancing India’s EV technology infrastructure. Known for their reliable products and nationwide presence, Servotech Power Systems has a history of innovation, including the distribution of premium LED lighting, UV-C disinfection products, and medical-grade oxygen concentrators.
IOCL’s portion of the order will see Servotech handling the manufacturing, supply, and installation of DC EV chargers nationwide, with a focus on deploying them at Indian Oil petrol pumps and other designated locations. The remaining chargers will be manufactured and supplied to other EV charger OEMs. This development is significant, as it is expected to drive the adoption of decarbonized mobility and cater to the evolving demands of the EV charging infrastructure.
Servotech has secured a significant order for electric vehicle (EV) chargers, receiving 1500 DC Fast EV chargers from HPCL and various OEMs. Additionally, the company has also been awarded an order for 1800 DC EV chargers from BPCL. This brings the total number of EV charger orders from oil marketing companies and EV charger OEMs to 4700 units, with a combined value of 333 crores.
Servotech Power Systems has committed to installing all these chargers by the end of the FY 2024-25. To meet this goal, the company plans to deploy 5% of the 4700 units of DC EV chargers by March 31st, 2024. Furthermore, Servotech Power Systems will also complete the deployment of 2649 AC EV chargers ordered by BPCL by the same deadline.
In a recent statement, Sarika Bhatia, the Director of Servotech Power Systems Ltd., expressed great pride in the company’s recent order wins, which mark a significant step in India’s E-Mobility revolution. She emphasized the company’s commitment to sustainable transportation alongside major oil marketing companies like IOCL, HPCL, and BPCL.
Bhatia highlighted Servotech’s manufacturing capabilities and quality-focused approach, which have earned the trust of industry leaders. She outlined the company’s goal to make EVs a widespread reality in India, leveraging partnerships with oil marketing companies to install EV chargers at petrol pumps nationwide. Bhatia also discussed Servotech’s DC fast EV chargers, designed to create e-mobility hubs that streamline transactions and enhance the overall user experience.
