Servotech to deliver 1,500 EV DC chargers to HPCL & other OEMs
Servotech Power Systems Ltd., an EV charger manufacturer in India, has bagged a substantial order for 1,500 DC fast EV chargers. The order, valued at Rs 102 crore, comes from Hindustan Petroleum Corporation Limited (HPCL) and other EV charger OEMs. This order comprises two charger variants of DC fast chargers: 60kW and 120kW.
In collaboration with HPCL, Servotech will be responsible for manufacturing, supplying, and installing DC EV chargers across the country. However, the priority will be given to HPCL's retail outlets. In addition, Servotech will manufacture and supply the remaining chargers to various EV charger OEMs.
Commenting on the occasion, Sarika Bhatia, Director of Servotech Power Systems Ltd., said, "We are honored to be a part of India's E-Mobility revolution and together with HPCL, we are committed to scaling up and fast-forwarding the transition to a sustainable future. As a leading EV charger manufacturer, our goal is to make India a nation where EVs are not just a dream but a living reality through a shared vision and relentless dedication."
In the recent interim budget for 2024, the government of India unveiled plans to bolster the electric vehicle (EV) ecosystem in the country by extending support to EV manufacturing and charging networks.
As part of the year-end review for 2023, the Ministry of Heavy Industries reported that a total of 148 EV public charging stations had been commissioned under the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) II scheme. In March 2023, the ministry allocated Rs 800 crore to Indian Oil, Bharat Petroleum, and Hindustan Petroleum to establish 7,432 public fast-charging stations nationwide under the FAME II initiative.
In terms of sales, the EV market in India experienced significant growth in 2023 compared to 2022. According to data from the Federation of Automobile Dealers Associations (FADA), sales of electric passenger vehicles surged by 114.71 per cent, while electric two-wheelers saw a notable increase of 36.09 per cent.
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