NSE-listed EV stock Servotech Renewable Power System soared over 7 percent 8 percent in intra-day deals to ₹142.93 on Wednesday, September 10, extending gains for the fourth straight session after the company announced that it has signed an exclusive strategic partnership with Zhuhai Piwin New Energy.
“Servotech Renewable Power System Limited has entered into an exclusive strategic partnership with Zhuhai Piwin New Energy Co., Ltd. (Pilot Group), China. The collaboration will focus on technology support and local manufacturing of advanced Battery Energy Storage Systems (BESS) in India, fully aligned with the Government’s ‘Make in India’ mission,” it said in a press release.
The EV stock has risen almost 16 percent in these 4 sessions while added over 13 percent in September so far after 2 months of losses. It fell over 10 percent in August and 7 percent in July.
Servotech, Piwin Join Hands to Boost India’s Clean Energy Mission
India’s clean energy transition received a significant push with the announcement of a strategic partnership between Servotech Renewable Power Systems Ltd. and Zhuhai Piwin New Energy Co., Ltd. The alliance aims to deliver scalable, next-generation Battery Energy Storage Systems (BESS) that will support India’s rapidly growing renewable energy sector.
The collaboration brings together Piwin’s global expertise in BESS technology and Servotech’s strong domestic manufacturing capabilities, creating solutions that are tailor-made for India’s energy needs. Servotech said that BESS plays a crucial role in maintaining grid stability, enhancing energy security, and ensuring round-the-clock integration of renewable energy sources.
Raman Bhatia, Managing Director of Servotech, called the partnership a major step forward in the company’s mission. He said that combining global technology with Servotech’s local manufacturing strength will result in indigenous energy storage solutions aligned with the ‘Make in India’ initiative. This, he added, will contribute to building a secure, sustainable, and self-reliant energy future for the country.
Servotech emphasized that the partnership strengthens its role as a key facilitator of India’s clean energy adoption, enabling industries, businesses, and households to access reliable, eco-friendly power solutions.
Servotech Renewable Power System Stock Performance
The stock has shed almost 8 percent in the last 1 year and 13 percent in the last 3 months.
However, in the long term, the stock has given multibagger returns, rallying 6,418 percent in 5 years.
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