Servotech Smart Power Solutions and EMCOR Power Solutions have recently signed a MoU that paves the way for the development of 1,000 electric vehicle (EV) charging stations across India.
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This agreement agrees to establish a network of 1,000 EV charging stations throughout India, marking a substantial commitment to the country's electric mobility infrastructure. EMCOR Power Solutions is an India-based startup of EMCOR International, a Kuwait-based company.
In this development, Servotech Power Systems is set to play a pivotal role as the manufacturer and installer of high-capacity DC fast electric vehicle (EV) chargers in India. These chargers, ranging from 30kW to 60kW and higher, are strategically planned for distribution across the country. The project will begin with the installation of 100 DC fast EV chargers in South India. Subsequently, the plan involves a phased expansion to cover the entire geographical expanse of India. Alongside the signing of the MoU, the NSE-listed Servotech Power Systems stock rebounded by 4 per cent as an immediate market response to the positive news.
Speaking on this agreement, Managing Director of Servotech Power Systems, Raman Bhatia shares, "The signed MOU aims to accelerate nationwide adoption of Electric Vehicles by developing a well-equipped and technologically advanced EV charging infrastructure. We understand that the widespread adoption of EVs require more than just cutting- edge EV chargers: it demands a comprehensive and robust charging infrastructure that is accessible to all." He added, "Our goal, as the leading EV charger manufacturer in India, having a substantial market share, is to transform this vision into reality. We are confident that our deep industry knowledge and expertise in manufacturing high quality, reliable and affordable charging solutions will make this partnership a resounding success."
"As the leading sustainable energy and power protection solutions provider, we, EMCOR Power Solutions understand that the path to sustainability is paved through innovation, dedication and strategic alliances. In the pursuit of fulfilling our vision of accelerating the transition to sustainable mobility we have forged strategic partnerships. The partnerships signify our dedication to bringing world class expertise and cutting-edge technology to the forefront of sustainable mobility solutions. We are fully committed to leveraging our vast experience and resources to drive transformative change in the sustainable mobility landscape. Through this partnership we aim to enter the realm of EV charging and are excited about the possibilities this partnership holds and the positive impact it will bring to our nation's mobility landscape," stated Byju Kuniyil, MD of EMCOR Power solutions & EMCOR International GTC, Kuwait
Other than this, Servotech, in the month of August also signed an MoU with the Government of Uttar Pradesh for an EV charging manufacturing plant with an investment of Rs. 300 crores and enabling employment to 500 people.
Written by:- Ronit Agarwal
