In a major push to encourage people to adopt electric vehicles, EV charger manufacturer Servotech Power Systems has signed a MoU with Uttar Pradesh to set up an electric vehicle charger manufacturing plant along with backward integration.
The plant will be set up under the Uttar Pradesh Electric Vehicle Manufacturing and Mobility Policy 2022.
As per the MoU, Servotech will invest nearly Rs 300 crore for the project in phases and will create employment for over 500 people.
The manufacturing 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.
The Uttar Pradesh government is working on facilitating the expansion plans in EV manufacturing, address, challenges tied to establishing a robust charging infrastructure and foster mutually beneficial partnerships.
“Uttar Pradesh comprises the huge potential to become the manufacturing hub of Electric Vehicles, chargers and batteries. This opportunity has provided golden chance to establish a state-of-the-art manufacturing plant that will help to build a phenomenal ecosystem for EV charging and actively contribute to a clean and green environment," Raman Bhatia, MD, Servotech, said.
"This MoU is a major step towards our goal of making Uttar Pradesh a leading EV manufacturing hub in India. We are confident that this plant will create a significant number of jobs and boost the state’s economy," IAS Prathamesh Kumar, Special Secretary to Chief Minister Yogi Adityanath, said.
The Yogi government in Uttar Pradesh in the last few years has taken several initiatives to help Micro, Small & Medium Enterprises (MSMEs) to grow while contributing to the state's and the country's economy.
Besides providing infrastructure for EV charging, the Delhi-based clean energy solutions provider is also engaged in manufacturing of solar products, including lithium batteries and Inverters.