Servotech secures orders for 1,400 EV chargers worth Rs 111 crore

Servotech Power Systems Ltd., a frontrunner in the Indian EV charger manufacturing sector, has secured orders for 1,400 DC fast EV chargers from Indian Oil Corporation Limited (IOCL) and various EV charger Original Equipment Manufacturers (OEMs), with the orders valued at Rs 111 crore. This development follows recent orders of 1,500 and 1,800 DC fast EV chargers from Hindustan Petroleum Corporation Limited (HPCL) and Bharat Petroleum Corporation Limited (BPCL) respectively, bringing Servotech's total orders to 4,700 units valued at Rs 333 crore.

The company is set to install these chargers across the nation by the end of the FY2024-25, with a commitment to deploy 5% of the total 4,700 DC EV chargers by March 31, 2024. Additionally, Servotech will fulfill an order of 2,649 AC EV chargers received from BPCL by the same deadline.

Sarika Bhatia, Director of Servotech Power Systems Ltd., speaking on the announcement said "As a premier EV charger manufacturer, we aim to transform India into a nation where EVs are not just a vision but a reality. With shared vision and unwavering dedication, we believe in making this dream come true. Leveraging the network of oil marketing companies and installing EV chargers at their petrol pumps, we're building a robust infrastructure for EVs, making them accessible to all, everywhere”.

"Our top-notch DC fast EV chargers are poised to create e-mobility hubs, streamlining transactions, enhancing accessibility, simplifying user experience, and aiding navigation for EV drivers. With our proactive assistance, we're driving a seamless shift toward a greener, more sustainable transportation landscape” he further added.