20 EV Charging Stations To Come Up In Nashik. (Representational Image) (Photo: The Economic Times)
Servotech Power Systems has secured fairness dilution of 6 per cent and raised Rs 12 crore at a pre-money valuation of Rs 200 crore.
Servotech Power Systems Ltd., a inexperienced charging options supplier, has secured a contract for electrical car (EV) charging stations all through the Nashik Municipal Corporation space.
This contract entails the provision, building, and commissioning of 20 electrical car (EV) charging stations throughout the realm. The major goal of this contract is to handle the mounting want for handy and accessible charging services for electrical automobiles, thereby facilitating the state’s transition in direction of sustainable transportation options.
With the rising reputation of electrical car (EV) mobility, there may be an important want for enhanced EV charging infrastructure, and these charging stations will enable electrical car (EV) homeowners to recharge their EVs conveniently whereas on the transfer.
The firm, in an change submitting, additional mentioned that Servotech shall be answerable for overseeing the provision, set up, building, commissioning, and upkeep of EV charging stations, catering to varied automobiles, and considerably enhancing Nashik’s electrical car (EV) charging community, in line with a report by Zee Business.
Notably, Servotech Power Systems has secured fairness dilution of 6 per cent and raised Rs 12 crore at a pre-money valuation of Rs 200 crore. Each electrical car (EV) charging station will value Rs 15–25 lakh, relying on the variety of chargers put in and its charging capability.
The firm added that this funding will gasoline Servotech EV Infra’s preliminary part progress plans. It additionally highlights Servotech’s dedication to sustainability by facilitating Nashik’s transition to cleaner transportation, which aligns with the corporate’s environmental accountability targets and reduces carbon emissions in one of many key cities of India, the corporate acknowledged in a press launch.
Neeraj Gupta was appointed as its AVP Operations and Prem Prakash as its Chief Executive Officer (CEO), the corporate additional knowledgeable.
Director of Servotech Power Systems Ltd., Sarika Bhatia, mentioned, “This contract represents a major milestone for Servotech Power Systems. We are deeply committed to advancing India’s electric vehicle revolution and fostering sustainable transportation solutions. We are already a leader in the EV charger market and through this initiative, we are set to become a leader in the EV charging infrastructure market as well.”
She added, “This collaboration with the Nashik Municipal Corporation underscores our capabilities to provide cutting-edge and reliable EV charging solutions for cities across the nation,” reported India.com.
The Servotech Power Systems Ltd. is an NSE-listed organisation that develops tech-enabled electrical automobiles Charging options, leveraging their greater than twenty years of experience and expertise within the electronics house.
