Servotech Power Systems Secures New Order Of 1400 DC Fast EV Chargers From IOCL, OEMs

Servotech Power Systems Ltd., a leading Indian EV charger manufacturer, has secured an order for 1400 DC fast EV chargers from Indian Oil Corporation Limited (IOCL) and other EV charger original equipment manufacturers (OEMs). This order, valued at Rs 111 crores, involves two charger variants of 60 kW and 120 kW.

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The partnership with IOCL will see Servotech manufacture, supply, and install these chargers across India. This move is expected to significantly contribute to the development of India's EV charging infrastructure, catering to the growing demand for electric vehicles and promoting decarbonised mobility.

The company previously received orders for 1500 (HPCL and OEMs) and 1800 DC fast EV chargers (BPCL), bringing the total number of DC fast EV charger orders from oil marketing companies and OEMs to 4700 units, with a combined value of Rs 333 crores.

The company further said in the release that these orders will be fulfilled by the end of the current financial year (FY 2024-25) and aims to deploy 5 per cent of the 4700 DC fast EV chargers by March 31, 2024.

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Commenting on this partnership, Sarika Bhatia, Director of Servotech Power Systems Ltd says, “We are honoured to contribute to India's E-Mobility revolution alongside major oil marketing companies like IOCL, HPCL, and BPCL. Together, we are committed to accelerating the transition to a sustainable future. Leveraging the network of oil marketing companies and installing EV chargers at their petrol pumps. 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. With our proactive assistance, we're driving a seamless shift toward a greener, more sustainable transportation landscape.”

Written by: - RONIT AGARWAL