Servotech And EMCOR Join Forces To Deploy 1,000 EV Charging Stations Across India
A recent Memorandum of Understanding between Servotech Smart Power Solutions and EMCOR Power Solutions lays the door for the construction of 1,000 electric vehicle (EV) charging stations throughout India.
This agreement makes a significant investment in India’s electric mobility infrastructure by committing to the establishment of a network of 1,000 EV charging stations nationwide. EMCOR International, a firm with its headquarters in Kuwait, has a startup in India called EMCOR Power Solutions.
As the Indian manufacturer and installer of high-capacity DC rapid electric vehicle (EV) chargers, Servotech Power Systems is poised to play a crucial part in this evolution. These chargers, which range in power from 30 kW to 60 kW and above, are being strategically distributed across the nation. 100 DC fast EV chargers will be installed in South India as the project’s first step. The plan then calls for a gradual extension to encompass India’s whole territory. As an instant market reaction to the good news, the NSE-listed Servotech Power Systems stock increased by 4% concurrent with the signing of the MoU.
Speaking on this agreement, Managing Director of Servotech Power Systems, Raman Bhatia shares, “The signed MOU aims to accelerate nationwide adoption of Electric Vehicles by developing a well-equipped and technologically advanced EV charging infrastructure. We understand that the widespread adoption of EVs require more than just cutting- edge EV chargers: it demands a comprehensive and robust charging infrastructure that is accessible to all.” He added, “Our goal, as the leading EV charger manufacturer in India, having a substantial market share, is to transform this vision into reality. We are confident that our deep industry knowledge and expertise in manufacturing high quality, reliable and affordable charging solutions will make this partnership a resounding success.”
“As the leading sustainable energy and power protection solutions provider, we, EMCOR Power Solutions understand that the path to sustainability is paved through innovation, dedication, and strategic alliances. In the pursuit of fulfilling our vision of accelerating the transition to sustainable mobility, we have forged strategic partnerships. The partnerships signify our dedication to bringing world-class expertise and cutting-edge technology to the forefront of sustainable mobility solutions.
We are fully committed to leveraging our vast experience and resources to drive transformative change in the sustainable mobility landscape. Through this partnership we aim to enter the realm of EV charging and are excited about the possibilities this partnership holds and the positive impact it will bring to our nation’s mobility landscape,” stated Byju Kuniyil, MD of EMCOR Power Solutions & EMCOR International GTC, Kuwait
In addition to this, Servotech inked an MoU with the Uttar Pradesh government in the month of August for the establishment of an EV charging manufacturing facility with an investment of Rs. 300 crores and the creation of 500 jobs.