Servotech Power Systems has come under a technical collaboration with a leading international company to spur the nation’s self-sufficiency in critical EV charger components.
Servotech is constructing the new EV charger components unit to produce a cutting-edge Power Modules, Control Circuits, and PLCs. These are all essential elements at the core of EV chargers.
The company believes that the EV charger components manufacturing unit to mark a decisive shift away from reliance on imports and position India as a key player in the global EV charger supply chain.
Servotech Power Systems’ technical collaboration with the leading international company’s name was kept undisclosed.
The new EV charger components plant will have an initial annual production capacity of 24,000 power modules and is told to ramp up its production capacity to 2.4 lakh power modules annually.
EV charger components plant to cater with the rapidly growing Indian EV market which will require around 6 lakh units annually. This scalable approach to EV charger components further adds to the company’s ambition to capture a significant share of the expanding EV charging sector.
Commenting on this announcement Arun Handa, Chief Technical Officer, Servotech Power Systems Ltd. said “Our goal is to make Servotech a preferred supplier of EV Chargers as well as preferred OEM supplier of Power Modules for Indian EV Charger manufacturers. By establishing a robust domestic supply chain, we contribute to the overall growth of the EV ecosystem, making charging solutions more affordable and accessible to a wider public.”
Key Milestones and Benefits:
- The new plant is expected to be fully operational by December 2024.
- This initiative will directly contribute to:
- Reduced reliance on imported components.
- Creation of high-skilled jobs within India.
- Economic growth in the technology sector.
- Advancement of India’s EV charging capabilities.
Servotech Power Systems Ltd. strategic investment in indigenous manufacturing in EV charger components reinforces the company’s dedication to providing dependable, cost-effective, and readily available EV charging solutions throughout the nation.
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