Servotech Power Systems Ltd. announced a strategic initiative to bolster the nation's self-sufficiency in critical EV charger components. To achieve this goal, Servotech has secured a technical collaboration with a leading international company. Servotech is constructing a cutting-edge manufacturing facility focused on the production of Power Modules, Control Circuits, and PLCs - essential elements at the core of EV chargers.

This move marks a decisive shift away from reliance on imports and positions India as a key player in the global EV charger supply chain. The new plant will have an initial annual production capacity of 24,000 power modules and will ramp up its production capacity to 2.4 million power modules annually in order to cater with the rapidly growing Indian EV market which will require around 6 million units annually. This scalable approach demonstrates Servotech's ambition to capture a significant share of the expanding EV charging sector.

The new plant is expected to be fully operational by December 2024.