EV stock jumps after signing agreement with France-based company to manufacture EV charger components in IndiaEV stock jumps after signing agreement with France-based company to manufacture EV charger components in India

Introduction:

EV stock collaborates with France-based Watt & Well to develop EV charger components in India. This partnership enhances localized manufacturing and strengthens India’s EV infrastructure. It focuses on advanced power electronics, supporting sustainable mobility and innovative charging solutions.

Share Price movement of Servotech Renewable Power System:

On February 19, 2025, Servotech Renewable Power System Ltd opened at ₹124.78, reaching a high of ₹126.97, up 2.31% from its previous close of ₹121.33, and a low of ₹120.50. Currently, it is trading at ₹124.13, with a market cap of ₹2,767.42 crore.

Servotech Renewable Power System new agreement:

Servotech Renewable Power System Ltd. has partnered with France-based Watt & Well SAS to develop and manufacture EV charger components in India. This collaboration focuses on advancing power electronics for sustainable mobility, supporting India’s EV infrastructure with cutting-edge technology and localized manufacturing.  

The partnership will initially develop a 30kW Power Module for the Indian EV charging market. Both companies will explore the feasibility of a Bidirectional Power Module for Vehicle-to-Grid (V2G) applications. Servotech will manufacture the power modules under the “Make in India” initiative, ensuring domestic production.  

Watt & Well will provide technical expertise, while Servotech will have exclusive rights to market and sell these components in India. This agreement strengthens India’s EV ecosystem by enhancing local manufacturing capabilities and integrating advanced power electronics solutions into the growing electric mobility sector.

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Ace investor holding of Servotech Renewable Power System:

Mahesh Dinkar Vaze holds 8.1 million shares of Servotech Renewable Power System Ltd., representing a 3.63% stake, valued at ₹100.7 crore. His substantial holding reflects confidence in the company’s growth potential in the renewable energy sector, particularly in EV charging and power solutions. 

Pankaj Malik holds 4.11 million shares of Servotech Renewable Power System Ltd., representing a 1.84% stake valued at ₹51.2 crore. His investment highlights confidence in the company’s potential within the renewable energy and EV charging sector, despite a slight reduction in holdings this quarter.

Stock performance of Servotech Renewable Power System for Period of 1 week, 6 months and 1 year:

Servotech Renewable Power System’s stock declined by 4.60% over the past week, indicating short-term weakness. Over six months, it dropped by 9.79%, reflecting continued pressure. However, the stock posted a strong 30.1% gain over the past year, showcasing long-term growth potential and investor confidence.

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Shareholding pattern of Servotech Renewable Power System:

All values in %	Dec-24	Sep-24	Jun-24
Promoters	59.19	59.34	59.7
FII	2.77	5.96	5.52
Retail & others	38.03	34.71	34.77

About Servotech Renewable Power System:

Servotech Renewable Power System Ltd. is a leading provider of sustainable energy solutions, specializing in solar, EV charging, and power backup systems. The company focuses on innovation, manufacturing high-efficiency solar inverters, LED lighting, and EV chargers, supporting India’s transition toward renewable energy and green mobility.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.