India’s leading EV charger manufacturer, Servotech Power Systems Ltd, has announced the formation of a wholly-owned subsidiary, Techbec Green Energy Pvt Ltd, aimed at manufacturing essential components for electric vehicle (EV) chargers and lithium-ion batteries. This strategic move aligns perfectly with the Make in India initiative and the nation’s shift towards cleaner and greener energy solutions.
The new subsidiary will be equipped with a state-of-the-art manufacturing facility spanning 40,000 sq ft in Sonipat, Haryana. This facility will focus on producing critical EV charger components, including Power modules, CCS 2 guns, Type 2 guns, Connectors, Control Cards, and PLC Modules, as well as Lithium-ion Batteries.
Servotech, along with its subsidiary, will make an initial investment of ₹30 Crores to procure cutting-edge testing equipment, skilled manpower, advanced machinery, and technology, while also supporting other allied activities. The company has ambitious plans to further invest ₹300 Crores by March 2025, aiming to achieve significant operational scale within the entire EV charging ecosystem.
Commenting on the announcement, the Founder and Managing Director of Servotech, Raman Bhatia, expressed his excitement about the establishment of Techbec Green Energy Pvt Ltd. He highlighted the capital allocation, emphasizing that it will significantly enhance the company’s capabilities and pave the way for future success.
By manufacturing key EV charger components in-house, Servotech aims to boost supply chain efficiency, reduce dependence on imports, and ensure the availability of safe, reliable, and cost-effective charging solutions for the rapidly growing EV market in India.
Bhatia emphasized the importance of this milestone in supporting the widespread adoption of electric vehicles in the country. By producing EV charger components domestically, the company strives to contribute to the Make in India initiative and provide technologically advanced charging infrastructure for EV users.
In addition to announcing the new subsidiary, Servotech revealed the successful divestment of its stake (63.5%) in its existing subsidiary, Techbec Global Solutions Pvt Ltd. This subsidiary was previously engaged in manufacturing battery storage solutions, including lithium-ion batteries, for EVs, E-rickshaws, and various solar-powered applications.
The management’s decision to divest was driven by their vision for broader expansion and innovation. Servotech plans to focus its resources and investments on ventures with greater potential for scalable growth and market penetration, in line with its core business objectives.
Servotech aims to strengthen its position as a key player in the clean energy ecosystem and drive the transition to sustainable transportation. By offering high-quality, domestically made EV charger components and lithium-ion batteries, the company remains committed to supporting India’s clean energy goals and facilitating the widespread adoption of electric vehicles.
