New Delhi, 20th February 2025: Servotech Renewable Power System Ltd. (NSE: SERVOTECH) (Formerly known as Servotech Power Systems Ltd.), a leading provider of sustainable energy solutions in India, signed an agreement with France based company Watt & Well SAS, a technology leader in power electronics equipment for the Aerospace, Oil & Gas, Renewables and E-Mobility sectors, to design, manufacture and sell EV charger components in India.

The collaboration will initially focus on the development of a 30kW Power Module for use in the Indian EV charging market. The companies will also jointly assess the viability and process for the production of a Bidirectional Power Module for V2G applications. Under the agreement, Servotech will manufacture Power Modules in India to achieve the Make in India mission, while Watt & Well will provide full technical support to achieve this mission. Servotech will also have the exclusive right to market and sell these components in India.

“We are excited to collaborate with Watt & Well to bring their cutting-edge power electronics technology to the Indian EV market,” said Raman Bhatia, Founder and Managing Director of Servotech Renewable Power System Ltd. “This collaboration will enable us to manufacture innovative and affordable EV Charging solutions at scale and offer our customers a comprehensive range of EV charging solutions. Also, this marks a decisive shift away from reliance on imports and positions India as a key player in the global EV charger supply chain.”

“We are delighted to join forces with Servotech to bring our power electronics expertise to the rapidly growing Indian EV market,” said Benoit Schmitt, CEO of Watt & Well SAS. “We believe that this collaboration significantly boost India’s domestic production of EV charging solutions, driving faster electric vehicle adoption and supporting the India’s clean energy objectives.