Servotech and EMCOR join forces to install 1,000 EV charging stations throughout India
By siliconindia | Monday, 16 October 2023, 09:47 IST
A Memorandum of Understanding (MoU) was recently signed by Servotech Smart Power Solutions and EMCOR Power Solutions, paving the way for constructing 1,000 EV charging stations throughout India. A significant investment in India's electric mobility infrastructure is made by this agreement, which commits to establishing a network of 1,000 EV charging stations across the nation. 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 India's manufacturer and installer of high-capacity DC fast electric vehicle (EV) chargers. These chargers, ranging from 30kW to 60kW and higher, are strategically planned for distribution nationwide. The project will begin with installing 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 percent 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 requires more than just cutting-edge EV chargers: it demands a comprehensive and robust charging infrastructure accessible to all. As the leading EV charger manufacturer in India and having a substantial market share, our goal 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. We have forged strategic partnerships to fulfill our vision of accelerating the transition to sustainable mobility. 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 300 crores and enabling employment to 500 people.
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