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BPCL Awards Major EV Charger Supply Project to Servotech to Help Build India's EV Tech Infrastructure



Posted On : 2022-11-06 13:45:00( TIMEZONE : IST )

BPCL Awards Major EV Charger Supply Project to Servotech to Help Build India's EV Tech Infrastructure

Servotech Power Systems Ltd., an NSE-listed leading manufacturer of EV Charging solutions has been awarded a major project by Bharat Petroleum Corporation (BPCL) to supply and install 800 units of DC fast EV Chargers at different locations across the country in the next four months.

The project execution which involves supplying a series of EV Chargers has already been initiated from the state of Delhi is worth Rs. 46.2 crores and is expected to be completed by 31st March, 2023. The project will span across the country, equipping petrol pumps in major Indian cities with EV Charging capabilities on its course.

As part of this project, Servotech will take care of installation, commissioning, and maintenance of DC fast chargers at a range of locations involving BPCL's retail sites and fuel and gas stations, as suggested by BPCL. The project will help ensure the deployment of e-mobility touchpoints that address transactions, availability, discovery, and navigation in order to give users of electric vehicles easy access to the charging network.

Raman Bhatia, Founder and Managing Director, Servotech Power Systems Ltd., commenting on being awarded the opportunity to associate with a prominent public sector power and gas company like BPCL said, "It is an honour for Servotech to have the chance to work hand-in-hand with BPCL to realise their goal of building an energy corridor in India that spans the entire breadth of the country to enable on-the-move charging for electric vehicles. Further, future asset allocation and expansion potential for EV charging will be also made possible by this collaboration. This project will definitely emerge as a consequential feat for the future, helping arrange and set in motion the building blocks to achieving a future of high density, well-amplified charging network for EVs. All electric four-wheelers will be able to utilise each charging station, which will have multiple charging points bringing the experience of fast DC charging closer to tomorrow's e-mobility users."

Servotech, which is also a major player in the Solar and power-backup solutions segment, aims to strengthen India's EV charging infrastructure by way of this opportunity, which will help bring a safe, sustainable, and efficient EV charging solution to accelerate the mass adoption of battery electric vehicles in India.

Shares of Bharat Petroleum Corporation Limited was last trading in BSE at Rs. 301.60 as compared to the previous close of Rs. 305.10. The total number of shares traded during the day was 331098 in over 4374 trades.

The stock hit an intraday high of Rs. 305.35 and intraday low of 298.80. The net turnover during the day was Rs. 99698442.00.

Source : Equity Bulls

Keywords

BharatPetroleumCorporation INE029A01011 BPCL EVChargingSolutions MajorProject ServotechPowerSystems