Servotech Power Systems Ltd., a leading player in India’s electric vehicle (EV) charging sector, has unveiled a strategic initiative aimed at enhancing the nation’s self-sufficiency in critical EV charger components. To achieve this objective, Servotech has entered into a technical collaboration with a prominent international firm.
The company is in the process of establishing a state-of-the-art manufacturing facility dedicated to the production of Power Modules, Control Circuits, and Programmable Logic Controllers (PLCs) – essential components at the heart of EV chargers. This strategic move marks a significant departure from dependence on imports and positions India as a key contributor to the global EV charger supply chain.
The upcoming plant will initially boast an annual production capacity of 24,000 power modules, with plans to scale up to 240,000 units annually to meet the burgeoning demand from the rapidly growing Indian EV market, which is anticipated to require around 600,000 units annually. This scalable approach underscores Servotech’s ambition to capture a substantial market share in the burgeoning EV charging sector.
Arun Handa, Chief Technical Officer of Servotech Power Systems Ltd., emphasized the company’s vision to establish Servotech as a preferred supplier of EV chargers and an OEM supplier of Power Modules for Indian EV charger manufacturers. By establishing a robust domestic supply chain, Servotech aims to catalyze the growth of the EV ecosystem, making charging solutions more affordable and accessible to a wider audience.
Key Milestones and Benefits:
- The new manufacturing plant is slated to be fully operational by December 2024.
- This initiative is expected to contribute to reduced dependence on imported components, creation of high-skilled job opportunities within India, economic growth in the technology sector, and advancement of India’s EV charging capabilities.
Servotech Power Systems Ltd. is committed to leading India’s transition to clean energy solutions. This strategic investment in indigenous manufacturing underscores the company’s commitment to delivering reliable, cost-effective, and readily available EV charging solutions across the nation.
