Servotech Power Systems has signed a memorandum of understanding (MoU) with the Government of Uttar Pradesh to set up an EV charger manufacturing plant in the state along with backward integration. It will set up the plant under the Uttar Pradesh Electric Vehicle Manufacturing and Mobility Policy 2022.
As per the MoU, Servotech will invest around INR 300 crore for this project in phases. The project is estimated to create employment for over 500 people.
The plant will be partially operational in the first quarter of 2025 and will have a capacity to manufacture 10,000 EV DC Fast chargers per year. The chargers will be manufactured for both domestic and export markets.
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