Servotech Power Systems to establish 5,000 EV charging stations across India

Servotech Power Systems has unveiled plans to install 5,000 electric vehicle (EV) charging stations nationwide, marking a significant move into the electric vehicle charging market. The company has set the stage for this initiative by incorporating a subsidiary, Servotech EV Infra, which will operate as a Charge Point Operator (CPO) for the planned EV chargers.

"Servotech Power Systems is venturing into the EV CPO business by establishing its wholly-owned subsidiary. It will manufacture and supply EV chargers to Servotech EV Infra, which will operate as a CPO for these EV chargers," the company stated.

The decision to enter the EV charging business is driven by the anticipated rapid growth of the EV charging market, aligning with the Indian government's goal of having 30 per cent of all vehicles electric by 2030. Servotech EV Infra is strategically positioned to capitalize on this anticipated surge, leveraging its established track record and expertise in EV charging technology.

Servotech Power Systems Founder and Managing Director, Raman Bhatia, expressed confidence in the move, stating, "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."

As part of its commitment to the EV ecosystem, Servotech Power Systems is investing Rs 300 crore to establish an EV charger manufacturing plant in Uttar Pradesh. This investment aligns with the Uttar Pradesh Electric Vehicle Manufacturing and Mobility Policy 2022, further reinforcing the company's commitment to shaping the future of electric mobility in India.