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Servotech Secures another Order for 1400 DC Fast EV Chargers worth Rs. 111 Crore from IOCL and Other OEMs

New Delhi 01 March’24: Servotech Power Systems Ltd., a leading
manufacturer of EV chargers in India, has bagged an order of 1400 DC
fast EV chargers from Indian Oil Corporation Limited (IOCL) and other
EV charger OEMs. The total order is valued at 111 crores and involves
two charger variants of 60 kW and 120 kW. The order secured by IOCL
involves Servotech manufacturing, supplying and installing DC EV
chargers nationwide, prioritizing deployment at Indian Oil petrol
pumps and other said locations. Additionally, Servotech will also
manufacture and supply the rest of the chargers to EV charger OEMs. This
move is seen as an important step as it will promote decarbonized
mobility and cater to the evolving needs of the EV charging
 Recently, Servotech received 1500 DC Fast EV charger order from
HPCL and OEMs.
 The company also received1800 DC EV chargers order from BPCL.
 The total number of EV charger orders from oil marketing
companies and EV charger OEMs stands at 4700 units.
 The total value of the combined orders stands at 333 crores.
Servotech is committed to installing all these chargers by the end of the FY
2024-25. Servotech will deploy 5% of the 4700 units of DC EV chargers by
March 31st, 2024. Additionally, Servotech will also complete the
deployment of 2649 AC EV chargers order received by BPCL by the same
deadline i.e. 31 st March 2024.
Sarika Bhatia, Director of Servotech Power Systems Ltd., said on this
commendable order wins: “We are honored to contribute to India's E-
Mobility revolution alongside major oil marketing companies like IOCL,
HPCL, and BPCL. Together, we are committed to accelerating the
transition to a sustainable future. It's a source of pride that these industry

leaders have chosen us based on our manufacturing capabilities and quality
conscious EV chargers. As a premier EV charger manufacturer, we aim to
transform India into a nation where EVs are not just a vision but a reality.
With shared vision and unwavering dedication, we believe in making this
dream come true. Leveraging the network of oil marketing companies and
installing EV chargers at their petrol pumps, we're building a robust
infrastructure for EVs, making them accessible to all, everywhere”.
"Our top-notch DC fast EV chargers are poised to create e-mobility hubs,
streamlining transactions, enhancing accessibility, simplifying user
experience, and aiding navigation for EV drivers. With our proactive
assistance, we're driving a seamless shift toward a greener, more
sustainable transportation landscape” said Sarika Bhatia.


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