Servotech Power to manufacture EV components, lithium-ion batteries with initial investment of Rs 30 cr

Servotech Power Systems recently announced an initial investment of Rs 30 crore to manufacture EV charger components and lithium-ion batteries. By March 2025, the initial investment will total Rs 300 crore and be made with the company's subsidiary Techbec Green Energy Pvt Ltd. According to a statement from Servotech Power, the initial investment will be used to buy testing tools, labour, machinery, and cutting-edge technology, as well as assist other related activities.

A 40,000 square foot facility in Sonipat, Haryana has been purchased to move the plans forward. Here, lithium-ion batteries and EV charger components like power modules, connectors, control cards, and PLC modules will be produced.

The initial investment of Rs 30 crore, according to the company's founder and MD Raman Bhatia, will be used to buy testing equipment, hire skilled labour, buy cutting-edge gear and technology, and support other relevant activities.

"Our new subsidiary represents a significant turning point in our effort to facilitate the wider use of electric vehicles. We want to support the Make in India initiative and provide electric car owners with technologically cutting-edge charging infrastructure by producing EV charger components domestically," he said. Leading producer of solar, EV chargers, power-backup, and other intelligent power solutions is Servotech Power.