Servotech Power Systems announced a major initiative to enhance India’s EV infrastructure by installing 5,000 EV charging stations nationwide. This strategic decision revealed on Tuesday, represents a crucial advancement in India’s shift to sustainable and eco-friendly transport.
On Tuesday, Servotech Power Systems announced its plan to establish 5,000 EV charging stations throughout India. For this initiative, the company has formed a subsidiary, Servotech EV Infra, which will operate as a Charge Point Operator (CPO) for these chargers.
The company is entering the EV CPO business by setting up Servotech EV Infra as a wholly-owned subsidiary. This new entity will manufacture and supply EV chargers for CPO operations.
Servotech’s decision is driven by the anticipated growth in the EV charging market, in line with the government’s target for 30% of all vehicles to be electric by 2030. With its expertise in EV charging technology, Servotech EV Infra is poised to capitalize on this market growth.
Raman Bhatia, Founder and Managing Director of Servotech Power Systems, highlighted the significance of this expansion into the EV CPO business. He emphasized that it reflects the company’s commitment to enhancing the EV infrastructure and supporting the increasing number of EVs in India.
Servotech Power Systems is investing INR 300 crore to support this venture to build an EV charger manufacturing plant in Uttar Pradesh under the Uttar Pradesh Electric Vehicle Manufacturing and Mobility Policy 2022.