Servotech sets up Techbec Industries to make batteries, allied activities

Servotech Power Systems on Friday said it has incorporated a subsidiary, Techbec Industries Ltd, for manufacturing batteries, particularly lithium-ion batteries, and other allied activities.

Servotech Power Systems will be the holding company of Techbec Industries Ltd (TIL) and would hold 63.5 per cent share capital in the newly established battery manufacturing entity, the company said in a regulatory filing.

The new subsidiary has been incorporated with the authorised capital of Rs 10 Lakh, the filing added.

“India must produce its own lithium-ion batteries in order to achieve its EV (electric vehicles) goals without importing any,” Raman Bhatia, Founder and Managing Director, Servotech Power Systems said in the statement.