Home Business This Small Cap Stock Secures ₹20 Crore Order from BPCL and Other Charger OEMs

This Small Cap Stock Secures ₹20 Crore Order from BPCL and Other Charger OEMs

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In a significant development for India’s burgeoning electric vehicle (EV) infrastructure, Servotech Power Systems Ltd. has secured a ₹20 crore order from Bharat Petroleum Corporation Limited (BPCL) and other Original Equipment Manufacturers (OEMs) for the supply and installation of advanced EV chargers. This order underscores the ongoing efforts to expand the nation’s EV charging network, crucial for supporting the anticipated growth in electric vehicle adoption.

Expanding EV Infrastructure

The order includes the delivery and installation of 1800 DC fast EV chargers and 2649 AC EV chargers across various locations in India. The DC fast chargers, which come in two variants of 60 kW and 120 kW, are set to be deployed primarily at BPCL petrol pumps in major cities under the BPCL E-drive Project. The AC chargers, ranging from 3 kW to 7 kW, will also be strategically installed to ensure widespread availability of EV charging points. The project is part of BPCL’s broader initiative to support the national agenda for a greener and more sustainable transportation ecosystem​.

BPCL
Image Source: Current Affairs – Adda247

Strategic Importance

This collaboration is not new for Servotech and BPCL. The two companies have previously partnered to enhance India’s EV charging landscape, demonstrating their commitment to accelerating the transition to electric mobility. Sarika Bhatia, Director of Servotech Power Systems Ltd., highlighted the strategic importance of this project, stating, “We are honored to lead India’s E-Mobility revolution in partnership with BPCL. This initiative is a significant milestone that will pave the way for a robust and expansive charging network essential for the future of high-capacity EV charging”​.

Implementation and Impact

The production of these chargers has already commenced, with the first batch expected to be dispatched by mid-December. The entire deployment is scheduled for completion within three months. This rapid rollout will significantly enhance the convenience of EV charging, reduce wait times, and improve the overall user experience for EV owners. By establishing more e-mobility touchpoints, the initiative aims to streamline transactions, enhance availability, facilitate discovery, and simplify navigation for EV users across the country​​.

Supporting India’s Green Goals

Servotech’s involvement in this project aligns with India’s ambitious goals to reduce carbon emissions and promote sustainable transportation. With over two decades of experience in the electronics and EV sectors, Servotech has been at the forefront of developing cutting-edge EV charging solutions. The company’s comprehensive engineering capabilities and robust pan-India presence make it a trusted partner in this transformative journey. As of January 2024, Servotech has successfully supplied over 4000 EV chargers across the country, reinforcing its pivotal role in the nation’s EV infrastructure development​.

Future Prospects

Looking ahead, the successful implementation of this project will set a precedent for future collaborations and innovations in the EV sector. The establishment of a reliable and extensive EV charging network is essential for encouraging more consumers to switch to electric vehicles. This project not only addresses the immediate need for more charging stations but also lays the groundwork for a sustainable and environmentally friendly transportation ecosystem in India​ ​.

In conclusion, the ₹20 crore order secured by Servotech Power Systems from BPCL and other OEMs marks a significant step forward in India’s e-mobility journey. It reflects a strong commitment from both public and private sectors to support the growth of electric vehicles and reduce the nation’s carbon footprint. As these chargers become operational, they will provide the much-needed infrastructure to support the increasing number of electric vehicles on Indian roads, paving the way for a cleaner, greener future.

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