Servotech incorporates Techbec Ind. for manufacturing li-ion batteries and allied activities
Servotech Power Systems has announced that it has incorporated a subsidiary, Techbec Industries Ltd, for manufacturing batteries, particularly lithium-ion batteries, and other allied activities.
Servotech Power Systems will be Techbec Industries Ltd's holding company (TIL) holding 63.5 percent share capital in the newly established battery manufacturing entity, the company said in a regulatory filing.
The new subsidiary has been incorporated with the authorized capital of Rs 10 Lakh; the filing added.
"India must produce its lithium-ion batteries to achieve its EV (electric vehicles) goals without importing any," Raman Bhatia, Founder, and Managing Director, of Servotech Power Systems said in the statement.
The newly launched subsidiary will be an integrated battery storage solution in the market, facilitating its goal of indigenizing battery manufacturing for EVs, E-rickshaws, and varied solar-powered solutions, he said.
TIL intends to bring specific focus to support the EV segment and the battery-as-a-service business model offering across its portfolio of commercial vehicles.
In addition to existing State Transport Undertakings (STUs) and government fleets, TIL will cater to all business opportunities across passenger mobility applications.
These efforts will be bolstered from our tech-enabled, newly-setup manufacturing unit at Safiabad, Sonipat, Haryana.
The facility which will shortly be operational is spread over 40,000 Sq ft and can produce up to 6,00,000 units of battery packs annually.
This workshop will be equipped with fully-automated, cutting-edge production lines and testing facilities to make custom-designed battery modules, packs, and containerization.