In a significant move towards bolstering India’s electric mobility infrastructure, Servotech Power Systems, the country’s prominent EV Charger manufacturer, has inked a Memorandum of Understanding (MoU) with the Government of Uttar Pradesh.
The agreement aims to establish an advanced Electric Vehicle (EV) Charger manufacturing plant in the state, accompanied by a comprehensive backward integration strategy. The plant’s setup aligns with the provisions of the Uttar Pradesh Electric Vehicle Manufacturing and Mobility Policy of 2022.
The MoU, a pivotal step in this collaborative venture, was formally signed by Raman Bhatia, Managing Director of Servotech Power Systems, and Nand Gopal Gupta, the Minister of Industrial Development for the Government of Uttar Pradesh.
Under the ambit of this comprehensive MoU, Servotech Power Systems is slated to invest approximately Rs 300 crore in a phased manner to realize this transformative project. This ambitious undertaking is set to generate employment opportunities for over 500 individuals.
The manufacturing facility is anticipated to commence partial operations within the first quarter of 2025, with a projected annual capacity of producing 10,000 EV DC Fast chargers. Notably, these chargers are destined to cater to both domestic and international markets, reflecting Servotech’s commitment to global sustainability initiatives.
“Uttar Pradesh possesses immense potential to emerge as a hub for Electric Vehicle manufacturing, including chargers and batteries,” Raman Bhatia, Founder & Managing Director of Servotech Power Systems, said.