Servotech Signs MoU with UP Govt for EV Charger Manufacturing Plant in Uttar Pradesh

Highlights :

  • As per this MoU, Servotech will invest nearly INR 300 crores for this project in phases and will create employment for over 500 people. This manufacturing plant will be partially operational in the first quarter of 2025 and will have a capacity to manufacture 10,000 EV DC fast chargers per year.
Servotech Signs MoU with UP Govt for EV Charger Manufacturing Plant in Uttar Pradesh

EV charger manufacturer Servotech Power Systems Ltd. has signed an MoU with the Government of Uttar Pradesh to set up an EV charger manufacturing plant in the state along with backward integration. The plant will be set up under the Uttar Pradesh Electric Vehicle Manufacturing and Mobility Policy 2022.

 

The MoU was signed by Raman Bhatia, Managing Director, Servotech Power Systems Ltd., and Nand Gopal Gupta ‘Nandi’, Minister of Industrial Development, Govt. of Uttar Pradesh, in the presence of Daya Shankar Singh, Transport Minister, Government of Uttar Pradesh, IAS Abhishek Prakash, CEO, Invest UP, IAS Prathamesh Kumar, Spl. Secretary to Chief Minister and Addl. CEO, Invest UP and other dignitaries.

As per this MoU, Servotech will invest nearly INR 300 crores for this project in phases and will create employment for over 500 people. This manufacturing plant will be partially operational in the first quarter of 2025 and will have a capacity to manufacture 10,000 EV DC fast chargers per year. The chargers will be manufactured for both domestic and export markets.

In line with the UP Government’s Electric Vehicle Manufacturing and Mobility Policy 2022, an ‘EV Roundtable Conference: Exploring Opportunities to Achieve UP’s Electric Mobility Vision’ was organised at Hyatt Lucknow to delve into collaborative opportunities to facilitate business expansion plans in EV manufacturing, address, challenges tied to establishing a robust charging infrastructure, and foster mutually beneficial partnerships.

On this noteworthy opportunity by UP Govt., Raman Bhatia, Founder & MD, Servotech Power Systems Ltd. said, “Uttar Pradesh offers the huge potential to become the manufacturing hub of electric vehicles, chargers, and batteries, etc. This opportunity has provided us the golden chance to establish a state-of-the-art manufacturing plant that will help to build a phenomenal ecosystem for EV charging and actively contribute to a clean and green environment.”

Commenting on the occasion, Sarika Bhatia, Director, Servotech said, “I firmly believe this MoU will give new wings to the capabilities of Servotech to take its legacy of providing excessively promising EV chargers and solar power products forward while establishing new milestones in the renewable energy market of Uttar Pradesh and India.”

IAS Prathamesh Kumar, Spl. Secretary to Chief Minister and Addl. CEO, Invest UP said, “We are glad to welcome Servotech Power Systems Ltd to Uttar Pradesh. This MoU is a major step towards our goal of making Uttar Pradesh a leading EV manufacturing hub in India. We are confident that this plant will create a significant number of jobs and boost the state’s economy.” He added, “We are very grateful to the Government of Uttar Pradesh for giving this golden opportunity to MSMEs like us. Such government initiative definitely helps MSMEs to prove their capabilities and grow while contributing to the nation’s development and economy. Servotech currently has big expansion plans to secure a place among the top 3 manufacturers of the EV Charging business.”

Earlier, Servotech Power Systems announced that it would be setting up a wholly-owned subsidiary, which will engage in the manufacture of EV charging components, manufacturing and trading of batteries.

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