In order to produce EV charger parts and lithium-ion batteries, Servotech Power Systems on Friday announced an initial investment of Rs 30 crore.

By March 2025, the initial investment will total Rs 300 crore along with Techbec Green Energy Pvt Ltd, a business subsidiary.

In a statement, Servotech Power said the initial investment will be utilized to procure testing equipment, manpower, machinery, and cutting-edge technology and supporting other allied activities.

To take the plans forward, a facility spanning 40,000 square feet has been bought in Sonipat, Haryana where EV charger components like power modules, connectors, control cards, and PLC modules will be manufactured along with lithium-ion batteries.

Company's founder and MD Raman Bhatia said the initial investment of Rs 30 crore will be allocated towards acquiring testing equipment, hiring skilled manpower, obtaining advanced machinery and technology, and supporting other related activities.