Servotech has teamed up with Watt & Well to design and manufacture EV charger components in India. The partnership will focus on producing a 30kW Power Module and assess V2G tech for the Indian market.
Servotech Renewable Power System, a prominent provider of sustainable energy solutions in India, has signed a strategic agreement with France-based company Watt & Well SAS.
The partnership aims to develop, manufacture, and sell EV charger components in India, starting with the production of a 30kW Power Module specifically designed for the Indian electric vehicle (EV) market.
The collaboration will also explore the potential for producing a Bidirectional Power Module for Vehicle-to-Grid (V2G) applications. As part of the agreement, Servotech will manufacture these Power Modules locally in India, aligning with the country’s Make in India initiative, while Watt & Well will provide full technical support. Servotech will hold exclusive marketing and sales rights for these components in India.
Raman Bhatia, Founder and Managing Director of Servotech Renewable Power System Ltd, expressed his excitement about the collaboration, highlighting that it would enable the company to scale up manufacturing of innovative and cost-effective EV charging solutions.
The partnership also reduces India’s dependence on imported Electric Vehicle technology, positioning the country as a key player in the global EV charger supply chain.
Benoit Schmitt, CEO of Watt & Well SAS, welcomed the collaboration, confident that their expertise in power electronics will significantly benefit the rapidly expanding Indian EV market.
Watt & Well specializes in the design, manufacture, and marketing of high-performance power electronics solutions, particularly for e-mobility, energy, oil & gas, and aerospace industries. They focus on innovation and product reliability.
Servotech Renewable Power System Limited’s share price stood at ₹121.88, reflecting a gain of ₹0.55 or 0.45% at 9:50 AM on the NSE from its previous close of ₹121.33.
The stock opened higher at ₹124.78 and reached a high of ₹126.97 during the session, with the low recorded at ₹120.50. Despite the fluctuations, the stock is currently trading closer to the high of the day.
This collaboration is poised to enhance local manufacturing of advanced EV charger components, with a focus on developing cost-effective and innovative solutions for the rapidly growing Indian market.
With Servotech holding exclusive marketing rights and leveraging the Make in India initiative, the alliance is well-positioned to make an impact on the electric vehicle charging sector, both locally and globally.
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Published on: Feb 20, 2025, 9:49 AM IST
Neha Dubey
Neha Dubey is a Content Analyst with 3 years of experience in financial journalism, having written for a leading newswire agency and multiple newspapers. At Angel One, she creates daily content on finance and the economy. Neha holds a degree in Economics and a Master’s in Journalism.
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