Servotech Power Systems Ltd. has bagged a contract from Hindustan Petroleum Corporation Limited (HPCL) and other EV charger OEMs.

The contract, valued at ₹102 crore, pertains to the supply of 1,500 DC fast EV chargers, involving two charger variants; 60 kW and 120 kW.

It includes manufacturing, supplying, and installing DC EV chargers, and prioritising deployment at HPCL’s retail outlets. Additionally, Servotech will also manufacture and supply the rest of the chargers to EV charger OEMs.

Sarika Bhatia, Director of Servotech Power Systems Ltd, said: “We are honored to be a part of India’s E-Mobility revolution and together with HPCL, we are committed to scaling up and fast-forwarding the transition to a sustainable future.”

“We are confident that our high-quality and technologically advanced DC fast EV chargers will help to establish e-mobility touchpoints, optimize transactions, improve availability, simplify discovery, and facilitate navigation for EV users,” Bhatia added.

Servotech Power Systems stock surged 4.99 per cent on the NSE to trade at ₹97.80 as of 1.22 pm on Friday. Meanwhile, Hindustan Petroleum Corporation stock declined 1.69 per cent, trading at ₹530 on the NSE.