Servotech Power Systems, a leading manufacturer of EV chargers, solar products, and other items, has signed an MoU with the Uttar Pradesh government to invest Rs 300 crore to set up an EV charger manufacturing plant in the state.
The plant will be set up under the Uttar Pradesh Electric Vehicle Manufacturing and Mobility Policy 2022. The plant is expected to create around 500 jobs and will boost the state's economy.
It is also a sign of Uttar Pradesh's commitment to becoming a leading EV manufacturing hub in India. Bhatia, the MD of Servotech Power Systems, said that the state has huge potential to become the manufacturing hub of EV chargers, batteries, and other EV components. He also said that the plant will help to meet the growing demand for EV chargers in India.
Commenting on the development, Prathamesh Kumar, the Special Secretary to Chief Minister and Additional CEO of Invest UP, said that the MoU is a major step towards making Uttar Pradesh a leading EV manufacturing hub in India. He also said that the plant will help to create a skilled workforce in the state.