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Servotech Power systems advances India’s EV charging market

Servotech Power systems advances India’s EV charging market

A leading player in the electric vehicle (EV) charging industry in India, Servotech Power Systems Ltd., has announced a strategic initiative to increase the country’s supply of essential EV charger parts domestically. Servotech has arranged a technological partnership with a preeminent global business to accomplish this aim.

A state-of-the-art manufacturing facility being built by Servotech will be dedicated to producing PLCs, control circuits, and power modules—the three key components that make up an EV charger. This action establishes India as a major participant in the global supply chain for EV chargers and signals a clear departure from dependency on imports.

To meet the demands of the fast-expanding Indian EV market, which is expected to require about 6 lakh units annually, the new factory would initially have an annual manufacturing capacity of 24,000 power modules. However, it will eventually ramp up to 2.4 lakh power modules annually. This scalable strategy shows Servotech’s desire to take a sizable chunk of the growing EV charging market.

Arun Handa, Chief Technical Officer of Servotech Power Systems Ltd., commented on this announcement. “Our goal is to make Servotech a preferred supplier of EV chargers as well as a preferred OEM supplier of power modules for Indian EV charger manufacturers. By establishing a robust domestic supply chain, we contribute to the overall growth of the EV ecosystem, making charging solutions more affordable and accessible to a wider public.”

Key Milestones and Benefits:

  • By December 2024, the new plant should be operating at full capacity.
  • Decreased dependency on imported parts is one of the main benefits of this project.
  • The establishment of highly skilled jobs in India.
  • Expansion of the technology industry’s economy.
  • Improvement of EV charging infrastructure in India.

Leading India’s shift to sustainable energy solutions is Servotech Power Systems Ltd.’s mission. This calculated investment in domestic production demonstrates the company’s commitment to offering EV charging options that are dependable, affordable, and easily accessible across the country.

For more info visit: https://www.servotech.in


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