Servotech Power Systems, an EV charger maker, has signed a Memorandum of Understanding (MOU) with Uttar Pradesh to establish an electric vehicle charger manufacturing unit with backward integration.
The facility will be established in accordance with the Uttar Pradesh Electric Vehicle Manufacturing and Mobility Policy 2022.
According to the MoU, Servotech would invest about Rs 300 crore in phases for the project, which will employ around 500 people.
The manufacturing factory, which will have a capacity of 10,000 EV DC Fast chargers per year, will be partially operational in the first quarter of 2025. The chargers will be produced for both domestic and international markets.
The Uttar Pradesh government is aiming to facilitate EV manufacturing development plans, address problems associated with developing a viable charging infrastructure, and promote mutually beneficial collaborations.
“Uttar Pradesh has enormous potential to become a manufacturing center for electric vehicles, chargers, and batteries.” “This opportunity has provided a golden opportunity to establish a cutting-edge manufacturing plant that will help to build a phenomenal ecosystem for EV charging and actively contribute to a clean and green environment,” stated Raman Bhatia, MD of Servotech.
IAS Prathamesh Kumar, Special Secretary to Chief Minister Yogi Adityanath said the MoU will significantly help Uttar Pradesh become India’s EV manufacturing powerhouse..
Prathamesh Kumar, also said, “We are confident that this plant will generate a significant number of jobs and help the state’s economy.”
The Uttar Pradesh Yogi administration has supported MSMEs in expanding and contributing to the state and national economy in recent years.
Aside from offering EV charging infrastructure, the Delhi-based clean energy solutions business also manufactures solar items such as lithium batteries and inverters.
Conclusion:-
Servotech Power Systems has signed a Memorandum of Understanding (MOU) with Uttar Pradesh to establish an electric vehicle charger manufacturing unit with backward integration. The facility will be established in accordance with the Uttar Pradesh Electric Vehicle Manufacturing and Mobility Policy 2022. Servotech will invest around Rs 300 crore in phases, employing around 500 people. The factory will produce 10,000 EV DC Fast chargers per year and will be partially operational in the first quarter of 2025. The Uttar Pradesh government aims to facilitate EV manufacturing development plans, address charging infrastructure issues, and promote mutually beneficial collaborations. The MoU will help Uttar Pradesh become India’s EV manufacturing powerhouse and generate jobs. The Delhi-based clean energy solutions business also manufactures solar items like lithium batteries and inverters.
