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Servotech Power hits the roof after bagging Rs 120-cr EV charger supply contract from BPCL

Servotech Power Systems was locked in 5% upper circuit at Rs 86.30 after the company said that it has bagged a major order of 1,800 DC fast EV chargers from Bharat Petroleum Corporation (BPCL).

(30 Jan 2024, 13:16)

The project, valued at Rs 120 crore, will involve Servotech manufacturing, supplying, installing and strategically deploying these 1800 EV chargers across the nation, particularly at BPCL petrol pumps in major cities, as part of the BPCL E-drive project.

The project encompasses two charger variants, 60 kW and 120 kW and the company aims to complete this extensive project by the end of 2024.

Serovtech Power Systems and BPCL had previously worked together to transform the E-Mobility landscape. Recently the company also bagged an order to supply and install 2,649 AC EV chargers at different locations across the country for BPCL’s E-drive project. Servotech has already completed 36% of supply and installation and the entire project will be completed by March’24.

Sarika Bhatia, director of Servotech Power Systems, said: “We take immense pride in accelerating India's E-Mobility revolution in collaboration with BPCL. Our partnership focuses on establishing a dynamic EV charging network that makes EV charging accessible for EV owners nationwide. Through cutting-edge DC Fast EV Chargers, Servotech Power Systems aims to play a pivotal role in realizing India's ambitious goals in the E-Mobility sector, bringing the nation closer to becoming an EV-powered nation.

As India wholeheartedly embraces electric mobility, Servotech stays at the forefront of developing a robust EV charging infrastructure and has already successfully supplied 4000 EV Chargers across India (as of Jan 2024).”

Servotech Power Systems develops tech enabled EV Charging solutions. The company offers an extensive range of AC and DC chargers which are compatible with different EVs and serve multiple applications such as commercial and domestic.