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Servotech establishes subsidiary for EV charger components | To invest INR 30 crores initially

Servotech Power Systems Ltd., an EV charger manufacturer, has established a wholly owned subsidiary, Techbec Green Energy Pvt. Ltd. to manufacture key components for Electric Vehicle (EV) chargers like Power modules, CCS 2 guns, Type 2 guns, Connectors, Control Cards, and PLC Modules and Lithium-ion Batteries.

The new subsidiary will operate from a manufacturing facility spread across 40,000 sq. ft. in Sonipat, Haryana. To kickstart its operations, Servotech and Techbec Green Energy are investing ₹30 Crores, which will be used to acquire testing equipment, hire skilled manpower, procure advanced machinery and technology, and support other related activities. The companies are planning to further invest ₹300 Crores by March 2025, with the aim of achieving significant operational scale in the entire EV charging ecosystem.

As part of this strategic move, Servotech is divesting its stake of 63.5% in its existing subsidiary, Techbec Global Solutions Pvt. Ltd., which was involved in manufacturing battery storage solutions for EVs, E-rickshaws, and solar-powered applications. This divestment aligns with Servotech’s long-term vision to concentrate its resources and investments on ventures that offer greater potential for scalable growth and market penetration.

Raman Bhatia, the Founder and MD of Servotech, said, “Our new subsidiary marks an important milestone in our journey towards supporting the widespread adoption of electric vehicles. By making EV charger components domestically, we aim to contribute to the Make in India initiative while ensuring the availability of technologically advanced charging infrastructure for electric vehicle users.”

With the establishment of Techbec Green Energy Pvt. Ltd., Servotech aims to play a significant role in the clean energy ecosystem and drive the transition to sustainable transportation.

Also Read: Magenta acquires majority stake in EV charger and component manufacturer Axiom

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