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Servotech EV Infra fuels expansion with Rs 200-cr infusion

Thursday, 14 Mar 2024
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Servotech EV Infra, a subsidiary of Servotech Power Systems has announced significant steps forward, as it embarks on growth plans coupled with the objective of accelerating India's EV charging infrastructure development.

The company has secured strategic equity dilution of six percent at a pre-money valuation of Rs 200 crore. This investment would provide crucial resources to fuel its initial phase of growth. Additionally, Servotech EV Infra will also establish proof of concept (POC) sites at 10 locations in North India within 100 days. Each EV charging station will cost around Rs 15 to 25 lakh, as per the charger capacity and number of chargers installed.

The capital infusion reinforces the company's commitment to innovation and sustainability. Furthermore, to spearhead this new phase, Servotech EV Infra has filled its AVP Operations profile with a new appointment for implementation of annual operating plans.

With these plans, Servotech EV Infra will continue to pursue innovation in the rapidly evolving landscape of electric vehicle (EV) charging infrastructure.

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