In a significant stride towards advancing India’s electric vehicle (EV) charging infrastructure, Servotech EV Infra Pvt. Ltd., a subsidiary of Servotech Power Systems Ltd., a leading manufacturer of EV chargers and solar products, announces major developments.
Securing a strategic equity dilution of 6% at a pre-money valuation of Rs. 200 crore, this investment will fuel the initial phase of Servotech EV Infra’s ambitious growth plans. Additionally, within 100 days, Servotech EV Infra plans to establish Proof of Concept (POC) sites at 10 strategic locations in North India, with each EV charging station costing approximately 15-25 lakhs depending on charger capacity and quantity.
To lead this exciting venture, Servotech EV Infra appoints Prem Prakash as Chief Executive Officer (CEO) and Neeraj Gupta as AVP Operations. Prem Prakash, with 22 years of experience across diverse industries, including Consumer Durables, FMCG, Media & Entertainment, E-Commerce, and Fintech, brings a wealth of expertise to the role. Neeraj Gupta, with 24 years of experience spanning EV Charging, Telecom services, Hospitality, and BPOs, will oversee operations, customer service, and team management.
Raman Bhatia, Founder and Managing Director of Servotech Power Systems Ltd., expresses excitement about the strategic equity dilution, emphasizing its role in accelerating India’s EV charging infrastructure development. He highlights the confidence investors have in Servotech’s vision and its pivotal role in driving sustainability and innovation.
Welcoming Prem Prakash and Neeraj Gupta, Raman Bhatia expresses confidence in their leadership and extensive experience, aligning seamlessly with Servotech EV Infra’s mission and goals. He anticipates continued growth and innovation under their guidance, positioning Servotech EV Infra as a frontrunner in the evolving landscape of electric vehicle charging infrastructure.
