Servotech Power Systems gets EV charger supply order worth Rs 111 crore

New Delhi: Green charging solutions provider Servotech Power Systems Ltd on Friday said it has bagged a Rs 111-crore order from Indian Oil Corporation and other original equipment manufacturers (OEMs) for the supply of 1,400 DC fast chargers.

The company will manufacture, supply and install 1,400 DC chargers in two variants of 60 kW and 120 kW, the company said in a statement.

The DC charger will be installed at Indian Oil petrol pumps and other prioritised locations, it said.

The company in February bagged two orders that comprised a contract for 1,500 DC fast EV chargers from Hindustan Petroleum Corporation Ltd (HPCL) and OEMs, and another for 1,800 DC EV chargers from Bharat Petroleum Corporation Ltd (BPCL).

With the latest project, the total number of EV charger orders from oil marketing companies and EV charger OEMs stands at 4,700 units, it said.

Servotech aims to install all these chargers by the end of FY 2024-25.