EV charger manufacturer Servotech Power Systems has launched Techbec Green Energy, a new unit to manufacture key components for electric vehicle (EV) chargers indigenously.
Techbec Green Energy will have a state-of-the-art manufacturing facility spanning 40,000 sq. ft. in Sonipat, Haryana. It will manufacture key EV charger components like power modules, CCS 2 guns, Type 2 guns, connectors, control cards, PLC modules and lithium-ion batteries.
Servotech and its subsidiary envisage an initial investment of INR 30 crore ($3.65 million) to procure testing equipment, manpower, machinery, cutting-edge technology, and support other allied activities. It plans to invest INR 300 crore additionally by March 2025 to upscale operations.
To streamline the corporate structure, Servotech is divesting its stake of 63.5% in its arm Techbec Global Solutions, which was primarily engaged in manufacturing battery storage solutions like lithium-ion batteries and other allied activities for EVs, e-rickshaws and varied solar-powered solutions.
“As part of its long-term vision, Servotech aims to focus its resources and investments on ventures that offer greater potential for scalable growth and market penetration. The divestment [of Techbec Global Solutions] allows Servotech to realign its portfolio, optimize its resources, and pursue new opportunities in line with its core business objectives,” stated Servotech.
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