Boost to EV infra: Delhi-based electric vehicle charger manufacturer Servotech Power to set up 1,000 charging stations

Electric vehicles charger manufacturer Servotech Power Systems has said that it has signed a memorandum of understanding (MoU) with Kuwait-based EMCOR Power Solutions to set up charging stations in the country.

Earlier in July, Servotech Power Systems had announced to manufacture EV charger components and lithium-ion batteries. 

As per the MoU, Servotech Power Systems and EMCOR Power Solutions will develop 1,000 EV charging stations that will be installed in different districts of the country.

"Under the memorandum of understanding (MoU), EMCOR Power Solutions commits to provide 1,000 charging power operators (CPO) sites in India. These sites will serve as the foundation for the installation of EV chargers, as outlined by the agreement," Servotech said in a statement.

It will manufacture and install 30kW to 60kW and higher capacity DC fast EV chargers to cater to the varying power requirements. The project will be executed in a phased manner.

"The MoU aims to accelerate nationwide adoption of E-vehicles by developing a technologically advanced EV charging infrastructure," Raman Bhatia, MD of Servotech Power Systems, said.

EMCOR Power Solutions is part of Kuwait-based EMCOR International which is in the business of oil and gas.
statement on Thursday.

Meanwhile, the equity shares of NSE-listed Servotech Power Systems gained nearly 1.50 per cent to 74.90 apiece. The counter has delivered a multibagger return of more than 300 per cent in the last one year.