A memorandum of understanding (MoU) was signed by the state of Uttar Pradesh and the manufacturer of electric vehicle chargers Servotech Power Systems in Delhi to establish a new EV charger manufacturing facility there. Under the Uttar Pradesh Electric Vehicle Manufacturing and Mobility Policy 2022, the new plant will be built at a cost of Rs 3,000 crore.

In a statement posted on the NSE, the company stated that the new manufacturing facility will have the capacity to produce 10,000 EV DC fast chargers annually. More than 500 people will also have direct employment as a result of the plant. The first quarter of FY2025 is probably when the facility will start to operate in part.

The nation's most populous state, Uttar Pradesh, has a great deal of potential to develop into a manufacturing hub for electric vehicles, chargers, and batteries, according to Raman Bhatia, founder and MD of Servotech Power.

In a statement, he said, "Servotech will take advantage of this opportunity to establish a state-of-the-art manufacturing facility that will actively contribute to a clean and green environment and help to build a phenomenal ecosystem for EV charging."

"We want to establish Uttar Pradesh as a premier EV manufacturing hub in India, and this MoU is a significant step in that direction. We are confident that this plant will increase employment levels and strengthen the state's economy, said IAS Prathamesh Kumar, Chief Minister Yogi Adityanath's special secretary.