New Delhi, 23 February’24: Servotech Power Systems Ltd., a manufacturer of EV chargers in India, has bagged a significant order for nearly 1500 DC fast EV chargers from Hindustan Petroleum Corporation Limited (HPCL) and other EV charger OEMs. The order is valued at 102 crores and involves two charger variants of 60 kW and 120 kW.
The order secured by HPCL involves Servotech manufacturing, supplying, and installing DC EV chargers nationwide. HPCL prioritizes the deployment at its retail outlets. Additionally, Servotech will also manufacture and supply the rest of the chargers to EV charger OEMs. Many view this move as a significant step towards making EVs more consumer-friendly. Moreover, it aims to create a robust and well-connected EV charging infrastructure. It will also promote decarbonized mobility and cater to the evolving needs of the sustainable automotive industry.
Sarika Bhatia, Director of Servotech Power Systems Ltd., said: “We feel honored to contribute to India’s E-Mobility revolution, and alongside HPCL, we pledge to accelerate the transition to a sustainable future. Moreover, our goal is to make India a nation where EVs are not just a dream but a living reality through a shared vision and relentless dedication”
“We are confident that our high-quality and technologically advanced DC fast EV chargers will help to establish e-mobility touchpoints. They will optimize transactions, improve availability, simplify discovery, and facilitate navigation for EV users. Moreover, our active support ensures a smooth transition towards a cleaner, more sustainable transportation ecosystem” said Sarika Bhatia
Servotech is informing its shareholders about the company’s recent success in the growing EV charger market through this press release. The order from HPCL and other OEMs is a significant validation of Servotech’s products and capabilities. Moreover, it positions the company well for future growth in the Indian EV market.
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