This strategic move underscores the company’s commitment to bolstering India’s EV infrastructure and accelerating the nation’s transition to sustainable mobility.
Servotech Power Systems Ltd. has secured a significant order from Indian Oil Corporation Limited (IOCL) and other EV charger original equipment manufacturers (OEMs) for 1,400 direct current (DC) fast EV chargers. The order, valued at ₹111 crores, includes two variants of chargers with capacities of 60 kW and 120 kW. Under the agreement with IOCL, the company will be responsible for manufacturing, supplying, and installing these DC EV chargers across the country, focusing on deployment at Indian Oil petrol pumps and other specified locations. Additionally, it will supply the remaining chargers to various EV charger OEMs.
This contract follows closely on the heels of recent orders received by the company, including an order for 1,500 DC fast EV chargers from Hindustan Petroleum Corporation Limited (HPCL) and other OEMs and an order for 1,800 DC EV chargers from Bharat Petroleum Corporation Limited (BPCL). With these orders, the company’s total tally of EV charger orders from oil marketing companies and EV charger OEMs stands at 4,700 units, with a combined value of ₹333 crores. The company has committed to installing all these chargers by the end of the fiscal year 2024-25, with a target to deploy 5% of the 4,700 DC EV chargers by March 31, 2024. Furthermore, the company aims to complete the deployment of 2,649 alternating current (AC) EV chargers ordered by BPCL by the same deadline.
Sarika Bhatia, Director of Servotech Power Systems Ltd., expressed her enthusiasm about the orders, stating, “We are honored to contribute to India’s E-Mobility revolution alongside major oil marketing companies like IOCL, HPCL, and BPCL. Our manufacturing capabilities and quality-conscious EV chargers have earned us the trust of these industry leaders. As a premier EV charger manufacturer, we are committed to transforming India into a nation where EVs are a reality, not just a vision. By leveraging the network of oil marketing companies and installing EV chargers at their petrol pumps, we are building a robust infrastructure for EVs, making them accessible to all, everywhere.” She added, “Our top-notch DC fast EV chargers are poised to create e-mobility hubs, streamlining transactions, enhancing accessibility, simplifying the user experience, and aiding navigation for EV drivers. Our proactive assistance drives a seamless shift toward a greener, more sustainable transportation landscape.”
