Mercury EV-Tech Limited
 | |
| Public | |
| Traded as | BSE: 531357 |
| ISIN | 🆔 |
| Industry | Electric Vehicles, Renewable Energy |
| Founded 📆 | 1986 |
| Founder 👔 | Jayesh Thakkar |
Area served 🗺️ | India |
Key people | Jayesh Thakkar (Founder and CEO) |
| Products 📟 | Electric two-wheelers, three-wheelers, commercial EVs, batteries |
| Members | |
Number of employees | |
| 🌐 Website | Official website |
| 📇 Address | |
| 📞 telephone | |
Mercury EV-Tech Limited is an Indian electric vehicle (EV) manufacturer headquartered in Vadodara, Gujarat. Established in 1986, the company specializes in the production of electric two-wheelers, three-wheelers, commercial vehicles, and essential EV components such as batteries, chassis, and motor controllers.[1]
History
Mercury EV-Tech began operations in 1986, focusing initially on electronic vehicles and renewable energy products. Over the years, it expanded into electric vehicle manufacturing. In 2024, Mercury EV-Tech commissioned a 3.2 GW lithium-ion battery manufacturing facility in Vadodara to support its EV lineup and energy storage solutions.[2]
Operations
Mercury EV-Tech operates multiple facilities across India:
- Vadodara, Gujarat: Headquarters, battery manufacturing unit, and R&D center
- Chhapi, Gujarat: Auto parts manufacturing facility
- Maihar, Madhya Pradesh: Research and Development center for high-range vehicles
The company also operates Gujarat’s first[3] and India's fourth-largest Cationic Electro Deposition (CED) plant, improving corrosion resistance in EV components.[4]
Products
Mercury EV-Tech manufactures a range of electric vehicles:
Two-Wheelers
- DLX: High-speed scooter with a range of 100–120 km per charge, top speed of 60–80 km/h.
- EZ: Urban commuter scooter with similar specifications to DLX.
Three-Wheelers
- Tejashvi Passenger: Electric rickshaw with a range of 180–200 km per charge, top speed of 45–65 km/h.
- Butterfly EV: Low-speed electric vehicle with a range of 80–110 km per charge and a top speed of 25 km/h.
Commercial Vehicles
- Voltus E-Loader: Electric loader with a range of 180–200 km per charge and a 4-hour charging time.
The company also manufactures lithium-ion batteries through its subsidiary, Powermetz Energy Private Limited.[5]
Financial Performance
For the fiscal year ending March 2024:
- In December 2023, Mercury EV-Tech reported consolidated net sales of ₹35.60 crore, representing a 678.11% year-over-year increase.[6]
- In September 2023, standalone net sales reached ₹13.91 crore, marking a 235.47% year-over-year growth.[7]
Leadership
The company was founded by Jayesh Thakkar, who continues to lead Mercury EV-Tech as CEO.[4]
See Also
External Links
References
- ↑ "Mercury EV-Tech Ltd share price | About Mercury EV-Tech | Key Insights - Screener". www.screener.in.
- ↑ https://www.business-standard.com/markets/capital-market-news/mercury-ev-tech-rises-after-commissioning-3-2-gw-battery-manufacturing-facility-in-vadodara-125041500583_1.html
- ↑ Sethi, Vaamanaa (January 2, 2024). "Small-cap stock under ₹100: Mercury Ev-Tech surge after THIS acquisition move | Stock Market News". mint.
- ↑ 4.0 4.1 "Mercury EV-Tech Limited". mercuryevtech.com.
- ↑ Nagasundaram, Dhanya (April 15, 2024). "Multibagger Stock: 16,200% rally in five years! Small-cap stock below ₹100 jumps 3% after business update | Stock Market News". mint.
- ↑ "Mercury EV Tech Share Price Surges Over 5% On New Battery Manufacturing Unit Announcement". English Jagran. April 15, 2024.
- ↑ https://www.moneycontrol.com/financials/mercuryevtech/profit-lossVI/MM01
References
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