Servotech Power Signs MoU With Adani Total Energies E-Mobility For EV Chargers

Servotech Power Systems entered into a partnership with Adani Total Energy e-Mobility Ltd for an EV charger on Wednesday.

Servotech Power System will do the work of easy charge manufacturing, supply and installation for different airports and other locations. This project will be completed in several phases and the first phase of EV charger The supply of electric vehicles has already been started. The Government of India wants to promote electric vehicles in the country by the year 2030, in which direction this contract made between Servotech Power and Adani Total Energy can play a big role.

Sarika Bhatia, Director at Servotech Power Systems, states, "Our partnership with Adani Total Energies underscores our joint dedication to leading India's E-Mobility transformation. Together, we're paving the way for an extensive nationwide energy corridor for on-the-go EV charging, a pivotal move towards reinforcing India's e-mobility vision. Through our manufacturing prowess, we're committed to enhancing India's EV charging infrastructure while supporting esteemed organizations like the Adani
Group", affirms Bhatia.

"This collaboration signifies our collective pursuit of a future defined by Nationwide Reach, Technological Innovation, Sustainability Impact, and Expanding Horizons. This initiative directly contributes to India's 2030 decarbonization goals, paving the way for a greener future. We're determined to elevate accessibility, convenience, and sustainability in emobility solutions, propelling India towards a resilient, high-capacity EV charging network. Our commitment to driving innovation remains unwavering, as we advance sustainable mobility, one charge at a time, said Sarika Bhatia.

Servotech Power Systems will be in charge of producing, supplying, installing, and maintaining EV chargers, significantly aiding in the achievement of Gautam Adani's, the Adani Group Chairman's, ambition. In order to create a strong EV charging environment, Adani Total Gas Ltd plans to build 75,000 EV charging stations by 2030.

With the help of Servotech's cutting-edge and superior EV chargers, this opportunity offers Servotech a thrilling opportunity to contribute significantly to Gautam Adani's ambitious project. Servotech anticipates that this deal will open the door for significant orders of EV chargers this year.

Shares of Servotech Power System have given a return of 22 per cent to the investors in the last one month whereas in the last one year, its shares have given a return of 322 per cent to the investors from the low level of Rs 23.

Recently, the company received an order to supply and install 1800 DC fast EV charger for Bharat Petroleum Corporation Limited. Servotech Power Systems has to install this charger at Bharat Petroleum's petrol pumps in big cities of the country.

NSE-listed Servotech Power Systems is engaged in the business of development of tech-enabled EV charging solutions leveraging their over two decades of experience and expertise in the electronics space. It offers an extensive range of AC and DC chargers which are compatible with different EVs and serve multiple applications such as commercial and domestic.