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Hot Pursuit News

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(30 Jan 2024, 13:16)

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).

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, ...

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