In a significant strategic move, Servotech Renewable Power System Ltd., a prominent manufacturer of EV chargers and solar solutions, has officially entered India's high-growth electric three-wheeler market. The company made the announcement at its annual flagship event, SUNKALP, marking a major expansion of its clean energy portfolio.
New Products for a Booming Market
The company unveiled two key products specifically designed for the electric three-wheeler ecosystem. The first is SULTAN, a lithium-ion battery engineered for e-rickshaws, e-autos, and e-cargos. It is available in two models: 51.2V/105Ah and 64V/105Ah. Utilizing LFP (Lithium Iron Phosphate) chemistry, the battery promises a lighter form factor and improved payload capacity for vehicles.
Accompanying the battery is Zest, a purpose-built battery charger. This device is designed to enhance charging efficiency, reduce charging time, and improve battery protection, aiming to maximize vehicle uptime for three-wheeler OEMs, dealers, and distributors.
Strengthening the Renewable Portfolio
Beyond the three-wheeler segment, Servotech also introduced Voltie, a 2 kW on-grid solar inverter tailored for residential and small-scale commercial use. This launch further solidifies the company's offerings in the renewable energy space.
Commenting on this strategic expansion, Raman Bhatia, Managing Director of Servotech Renewable Power System Ltd., stated, "Our entry into the electric three-wheeler segment is a natural progression of Servotech’s journey in clean energy. We have built strong leadership in solar and EV charging, and we are now excited to extend that expertise into lithium solutions for micromobility."
Market Context and Stock Performance
This foray comes at a time when India’s electric three-wheeler segment is experiencing rapid growth. This surge is fueled by increasing urbanization, rising demand for last-mile delivery services, and supportive government policy incentives.
However, the company's stock has faced recent headwinds. Servotech Renewable Power shares have declined by approximately 53% from their recent highs since June. The sell-off deepened in the current month, with the stock losing another 1.5%. The shares ended 2025 with a sharp fall of 52.3%, marking their biggest calendar-year drop in the last five years.
Despite the short-term pressure, the long-term performance remains noteworthy. The stock has delivered a staggering return of 3500% over the last five years. Between 2020 and 2024, it enjoyed a sustained bull run, closing each of those calendar years higher and generating a massive cumulative return of 22,420%.
The company's expansion into the electric three-wheeler segment represents a calculated bet on one of India's most dynamic clean mobility markets, even as it navigates current volatility in the stock market.
