Servotech Power Systems, in collaboration with its subsidiary Techbec Green Energy Pvt Ltd, has announced an initial investment of Rs 30 crore to manufacture EV charger components and lithium-ion batteries. This investment will be further augmented by an additional Rs 300 crore by March 2025.
The company intends to utilize the initial investment to procure testing equipment, manpower, machinery, cutting-edge technology, and support other allied activities. To facilitate these plans, Servotech Power Systems has acquired a facility spanning 40,000 square feet in Sonipat, Haryana. This facility will be used to manufacture EV charger components such as power modules, connectors, control cards, and PLC modules, in addition to lithium-ion batteries.
Raman Bhatia, the Founder and MD of Servotech Power Systems, highlighted that the initial investment of Rs 30 crore will be allocated towards acquiring testing equipment, hiring skilled manpower, obtaining advanced machinery and technology, and supporting related activities. Bhatia also emphasized the significance of this investment in the company’s journey towards supporting the widespread adoption of electric vehicles in India. By manufacturing EV charger components domestically, Servotech Power Systems aims to contribute to the Make in India initiative while ensuring the availability of technologically advanced charging infrastructure for electric vehicle users.
Servotech Power Systems is an industry leader in manufacturing solar, EV chargers, power-backup, and other smart power solutions.