In a significant move to boost the electric vehicle (EV) charging infrastructure in India, Servotech Power Systems Ltd., a front-runner in the manufacture of EV chargers, has acquired a substantial order for 1,400 DC fast EV chargers from Indian Oil Corporation Limited (IOCL) and other EV charger Original Equipment Manufacturers (OEMs).
The order, valued at ₹111 crore, encompasses two charger variants – 60 kW and 120 kW, aiming for a nationwide deployment prioritizing Indian Oil petrol pumps among other locations.
Further amplifying its footprint in the EV charging domain, Servotech has also clinched orders for 1,500 DC fast EV chargers from Hindustan Petroleum Corporation Limited (HPCL) and various OEMs, alongside an 1,800 DC EV charger order from Bharat Petroleum Corporation Limited (BPCL). Cumulatively, the company is set to fulfill orders for 4,700 units of EV chargers, with the total valuation of these orders reaching ₹333 crore.
Servotech has committed to the complete installation of these chargers by the end of the financial year 2024-25, with a target to deploy 5% of the 4,700 DC EV chargers by March 31, 2024. In addition, Servotech will also undertake the deployment of 2,649 AC EV chargers, ordered by BPCL, by the same deadline.
Sarika Bhatia, Director of Servotech Power Systems Ltd., expressed her pride in the company’s role in advancing India’s E-Mobility revolution in collaboration with major oil marketing companies like IOCL, HPCL, and BPCL. “We are honored to contribute to India’s E-Mobility revolution alongside major oil marketing companies. As a premier EV charger manufacturer, we aim to transform India into a nation where EVs are not just a vision but a reality,” Bhatia stated.
Highlighting the strategic importance of these collaborations, Bhatia remarked on the company’s dedication to enhancing the EV charging infrastructure, thereby facilitating the transition to sustainable transportation. “Our top-notch DC fast EV chargers are poised to create e-mobility hubs, streamlining transactions, enhancing accessibility, simplifying user experience, and aiding navigation for EV drivers,” she added, emphasizing the move towards a greener and more sustainable transportation landscape.
