Watt & Well is a French power electronics equipment provider specializing in the design, manufacture, and marketing of high-performance solutions for demanding applications in e-mobility, energy, oil & gas and space.
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, 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.
Raman Bhatia, founder and managing director of Servotech Renewable Power System, said: “We are excited to collaborate with Watt & Well to bring their cutting-edge power electronics technology to the Indian EV market.
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.”
Servotech Renewable Power System develops tech-enabled EV Charging solutions. The company offers an extensive range of AC and DC chargers which are compatible with different electric vehicles and serve multiple applications such as commercial and domestic.
The company's consolidated net profit surged to Rs 7.96 crore in the quarter ended December 2024 from Rs 1.11 crore during the previous quarter ended December 2023. Sales rose to Rs 216.30 crore in Q3 FY25 from Rs 52.01 crore in Q3 FY24.
The scrip rose 0.75% to currently trade at Rs 122.24 on the NSE.