Servotech Power Systems Makes Bold Move into EV Charging Infrastructure
In a bold and visionary move, Servotech Power Systems announced on Tuesday its plans to deploy 5,000 EV-charging stations nationwide. The company has taken the initiative to establish a subsidiary, Servotech EV Infra, which will operate as a Charge Point Operator (CPO) for these EV chargers.
The decision to enter the EV CPO business marks a strategic shift for Servotech Power Systems. The company will manufacture and supply EV chargers to its subsidiary, Servotech EV Infra, positioning itself to capitalize on the rapidly growing EV charging market. With the government aiming to have 30% of all vehicles electric by 2030, Servotech Power Systems is making a bold and strategic move to tap into this burgeoning market.
Servotech Power Systems Founder and MD Raman Bhatia expressed confidence in the company’s ability to thrive in the EV infrastructure landscape and meet the increasing demand for EVs in the country. He emphasized the significant role that the expansion into the EV CPO business will play.
As part of its commitment to this venture, Servotech Power Systems is 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 move positions Servotech Power Systems at the forefront of the evolving EV market and underscores its dedication to shaping the future of electric mobility in India.
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