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Servotech Power Systems planning to invest Rs 100 crore for setting up facility to manufacture components of EV chargers

08 Mar 2024 Evaluate

Servotech Power Systems is planning to invest Rs 100 crore for setting up a facility to manufacture components of EV chargers. The project will come up at Sonipat in Haryana. The plant will have an initial annual production capacity of 24,000 power modules.

Its production capacity will be ramped up to 2.4 lakh in order to cater to the rapidly growing Indian EV market which will require around 6 lakh units annually. The facility will produce power modules, control circuits, and power line communications. 

Servotech Power Systems is engaged in manufactures and sells inverters, uninterruptible power source products, and servo stabilizers under the SERVOTECH brand name in India, south-east Asia, Africa, Europe, and the Middle East.

Peers
Company Name CMP
Havells India 1311.90
Siemens 3687.30
Apar Inds 11582.15
ABB India 7047.65
Waaree Energies 3490.00
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