EV stock Servotech Renewable Power System jumps 8% after this business update. Do you own?
Servotech Renewable Power System's stock rose nearly 8% after announcing a strategic partnership with Zhuhai Piwin New Energy to enhance Battery Energy Storage Systems in India, supporting the 'Make in India' initiative and contributing to the nation's clean energy transition.
EV stock Servotech Renewable Power System rose almost 8 percent in intra-day deals on Monday, September 8 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.
Focus on Accelerating India’s Clean Energy Transition
This partnership marks a major milestone in India’s clean energy transition. The collaboration combines Piwin’s global expertise in Battery Energy Storage Systems (BESS) with Servotech’s domestic manufacturing strength and market presence to deliver scalable, future-ready energy storage solutions designed for India’s rapidly expanding renewable energy ecosystem.
The company said that BESS is critical for ensuring grid stability, enhancing energy security, and enabling round-the-clock renewable integration. Through this partnership, Servotech aims to drive innovation, boost indigenous manufacturing, and help build a sustainable energy ecosystem that strengthens India’s energy independence.
Commenting on the development, Raman Bhatia, Managing Director of Servotech Renewable Power System Ltd., said, “This exclusive partnership with Zhuhai Piwin New Energy Co., Ltd. is a milestone in Servotech’s journey. By bringing cutting-edge global technology to India and aligning it with our strong domestic expertise, we are set to deliver indigenous BESS solutions that reinforce the ‘Make in India’ vision and pave the way for a sustainable, secure, and self-reliant energy future.”
The company added that this move further strengthens its position as a key enabler of India’s renewable energy adoption, offering innovative solutions that empower industries, communities, and individuals to access clean and reliable power.
Servotech Renewable Power System Stock Performance
The stock soared as much as 7.7 percent to its day's high of ₹133.48. The stock has shed 24 percent in the last 1 year and 16 percent in the last 3 months.
However, in the long term, the stock has given multibagger returns, rallying 6,138 percent in 5 years.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.