Servotech Power Systems has announced an initial investment of Rs. 30 crore for manufacturing Electric Vehicle (EV) charger components and Lithium-ion (Li-ion) batteries in Haryana. This investment is part of Servotech’s planned total investment of Rs. 300 crore in this facility by March 2025. This investment will be made together with the company’s subsidiary Techbec Green Energy Pvt. Ltd.
Servotech’s initial investment will be used for procuring testing equipment, machines, workforce and other associated activities. The company has bought a factory in Haryana spanning 40,000 square feet for manufacturing EV charger components such as connectors, Power Line Communication (PLC) modules and power modules. The company will also manufacture Li-ion batteries in this facility.