Servotech Power inks pact with Dubai-based firm to install EV charging solutions

Servotech Power Systems Limited, NSE: SERVOTECH, has announced an agreement with a Dubai-based firm to provide electric vehicles charging solutions to the Middle Eastern and African markets.

The company forayed into the EV market recently with the launch of high-tech EV charging equipment. It intends to establish EV charging tech infrastructure pan India expeditiously and bolster the nation’s progression towards the electric revolution

According to an exchange filing, Servotech Power has partnered with Al Ansari Motors with an aim to create an organised and integrated EV charging infrastructure in the region. 

"It offers a firm path for future developments with cutting edge technology and faster charging speeds," the company said in the filing. 

"The Middle East and Africa present a huge untapped market potential and a sea of potential electric vehicle users. Each charging point installed under the pact will be accessible to all electric four-wheelers," said Raman Bhatia, founder and MD, Servotech Power.

According to a sole distributorship agreement that the two parties signed on Monday, Al Ansari Motors will provide Servotech's EV charging capabilities to the potential adopters of electric vehicles in these areas, as per reports.

Shares of Servotech Power Systems gained 1.60 per cent to close at Rs 41.35 on NSE during Tuesday's trade.

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