In a move aimed at expanding electric vehicle (EV) infrastructure, Servotech Power Systems and the Uttar Pradesh government have signed a Memorandum of Understanding (MoU). This partnership will culminate in the setting up of an EV Charger manufacturing facility in the state. The initiative aligns with the Uttar Pradesh Electric Vehicle Manufacturing and Mobility Policy of 2022.
According to the agreement, Servotech is expected to put an investment of about Rs 300 crores into this venture. Over its developmental phases, the initiative will generate employment opportunities for more than 500 individuals. By the beginning of 2025, the manufacturing plant aims to be semi-operational, boasting an annual production capacity of 10,000 EV DC Fast chargers. These chargers will cater to both the Indian and international markets, said the company.
Raman Bhatia, Managing Director, Servotech Power Systems, and Nand Gopal Gupta ‘Nandi', Minister of Industrial Development, Uttar Pradesh, were the principal signatories for the MoU. Raman Bhatia, reflecting on the collaboration, acknowledged Uttar Pradesh's potential in becoming a prominent EV manufacturing center. He expressed enthusiasm about creating an advanced manufacturing facility in the region, emphasising the environmental benefits of such a move.
Sarika Bhatia, Director, Servotech, said that the MoU would enhance Servotech's legacy in the renewable energy domain, with a focus on the EV chargers and solar power sectors. Prathamesh Kumar, Additonal CEO, Invest UP, also said that the collaboration is a pivotal step towards transforming Uttar Pradesh into a key EV production hub, furthering job creation and economic upliftment.