Servotech Renewable Power Systems has announced a partnership with France-based Watt & Well to develop and manufacture electric vehicle (EV) charger components in India. As part of this collaboration, Servotech will focus on producing locally manufactured EV power modules under the ‘Make in India’ initiative. Watt & Well will provide its technical expertise, with Servotech holding exclusive marketing and distribution rights for these components in India.
The partnership will kick off with the creation of a 30 kW Power Module specifically designed for the Indian EV market. Future plans involve expanding this collaboration to include bidirectional power modules, which are crucial for vehicle-to-grid (V2G) applications. These advanced components are expected to help drive the adoption of EVs by improving charging infrastructure and enabling more efficient energy use.
In response to the announcement, Servotech’s stock price saw a notable increase of 5%, reaching ₹127 per share during morning trade. This marks the second consecutive day of gains for the company, signaling positive investor sentiment surrounding its growing role in India’s EV infrastructure. Despite a volatile market, the collaboration with Watt & Well is seen as a strategic move that strengthens Servotech’s position in the renewable energy and EV sectors.
The company also reported impressive financial results for the December quarter, with net profits surging to ₹8 crore, compared to just ₹1.11 crore during the same period last year. Revenue also jumped significantly, growing fourfold to ₹216.83 crore, largely driven by demand in the EV and renewable energy segments.
Servotech’s growing presence in the EV sector and its expansion into manufacturing key charger components highlight the company’s role in supporting India’s transition to sustainable energy solutions. This partnership is expected to boost India’s EV infrastructure, positioning Servotech as a key player in the country’s electric vehicle ecosystem.
