Multibagger EV stock at Rs 85.5 hit upper circuit as it partners with Electra EV to create India’s first fast charging interoperability solutions!
From Rs 1.92 to Rs 85.50 per share, the stock delivered multibagger returns of 4,350 per cent in 3 years.
Servotech Power Systems Ltd, a leader in the development of EV chargers and solar solutions, and Electra EV, India’s leading Electric Vehicle Powertrain solutions company, have announced a collaboration for a jointly owned revolutionary EV charger technology, for which they filed for patents recently.
These ground-breaking solutions enable fast DC charging of any GB/T Bharat DC 001 vehicle (which are on sub 200V DC platforms) from the CCS2 charging network through the addition of a connector using a small additional gadget. This need was established by Electra EV serving their OEM and fleet customers. This innovation paves the way for seamless charging compatibility, eliminates the need for expensive dual infrastructure deployment, and benefits both passenger services and commercial vehicles that rely on the GB/T Bharat DC 001 protocol.
The partnership between Servotech Power Systems Ltd. and Electra EV signifies a pivotal moment in the advancement of the EV industry across India and other countries adopting the GB/T Bharat DC 001 standard. By streamlining charging infrastructure and driving down costs, this united front paves the way for the widespread adoption of electric vehicles.
About Electra EV
Electra EV (Electrodrive Powertrain Solutions Pvt Ltd) is amongst India’s leading electric powertrain solutions companies with offerings in complex high and low-voltage platforms across vehicle categories. It has a range of solutions covering battery packs, drivetrains, vehicle software, control solutions and fully integrated powertrain manufacture and supply, and caters to leading automotive OEMs.
About Servotech Power Systems Ltd
Servotech Power Systems, a leading company in electronics and EV charging, is leveraging its experience to build India's EV infrastructure. They offer various AC/DC chargers, are building a domestic manufacturing facility for crucial components, and recently secured a contract to construct 20 EV charging stations in Nashik, contributing to cleaner transportation and a stronger EV ecosystem in India.
Today, shares of Servotech Power Systems Ltd were locked in a 5 per cent upper circuit to Rs 85.50 per share from its previous closing of Rs 81.45. The 52-week high of the stock is Rs 108.70 and the 52-week low of Rs 16.48 with a market cap of over Rs 1,800 crore. The promoters of the company bought 42,50,000 shares and increased their stake to 61.37 per cent in January 2024 compared to 60.60 per cent in December 2024. From Rs 1.92 to Rs 85.50 per share, the stock delivered multibagger returns of 4,350 per cent in 3 years. Investors should keep an eye on this multibagger EV stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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