Servotech Power, Dubai#39;s Al-Ansari Motors ink pact to install EV charging solutions

Stocks

The two entities have signed a sole distributorship agreement, which will see Al Ansari Motors bring Servotech’s EV charging capabilities to the potential electric vehicle adopting segment in these markets, SPSL said in a statement on Monday.

PTI

February 20, 2023 / 02:55 PM IST

Lithium is used in electric vehicle (EV) batteries

Lithium is used in electric vehicle (EV) batteries

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}); }); function redirectToTradeOpenDematAccountOnline(){ if (stock_isinid && stock_tradeType) { window.open(`https://www.moneycontrol.com/open-demat-account-online?classic=true&script_id=$ {stock_isinid}&ex=$ {stock_tradeType}&site=web&asset_class=stock&utm_source=moneycontrol&utm_medium=articlepage&utm_campaign=tradenow&utm_content=webbutton`, ‘_blank’); } } Homegrown Servotech Power Systems Ltd (SPSL) has inked a pact with Dubai-based Al Ansari Motors to provide electric vehicles charging solutions to the Middle Eastern and African markets.The two entities have signed a sole distributorship agreement, which will see Al Ansari Motors bring Servotech’s EV charging capabilities to the potential electric vehicle adopting segment in these markets, SPSL said in a statement on Monday.Al Ansari Motors LLC is into motor vehicles and accessories trading, it said.Raman Bhatia, Founder and MD of SPSL said, the Middle East and Africa present a huge untapped market potential and a sea of potential electric vehicle users. Each charging point installed under the pact will be accessible to all electric four-wheelers.Mohammad Humaid Alansari, Founder at Al Ansari Motors said: “This pact gives us a chance to make Servotech’s extensive EV charging solutions more accessible and affordable in our native markets. This will result in both generating sustainable profits and evolving the future of electric vehicles.”The partnership aims to create an organised and integrated EV charging infrastructure in the Middle East and African region while also offering a firm path for future developments with cutting-edge technology and faster charging speeds, the statement said.