Forbes EMF-Backed Auto Stock In Focus On Strengthening Retail Presence; Details Here

Mercury EV-Tech Ltd, a Gujarat-based electric vehicle (EV) solution provider, recently launched a new showroom in Dahod in its aggressive line-up of retail expansion plans across the state. The new store is conveniently situated close to Simandhar Swami Temple, facing Swaraj Tractors, Old Dahod-Indore Road, Simandhar Society, Dahod.

The grand opening was celebrated by company officials and dignitaries, including Chairman and Managing Director Shri Jayesh Thakkar and Director Shri Darshan Shah, as well as local community leaders. The event reiterated the company's mission of bringing greener and sustainable mobility solutions to the people of Gujarat.

The new showroom at Sanghadia Circle is Mercury EV-Tech's second major showroom launch in recent weeks after opening a flagship store in Bhavnagar near Jashonath Circle. The Bhavnagar showroom is being established as a most significant point for 'Make in India' electric vehicles, which includes a variety of EVs from two-wheelers to commercial tempos. Speaking at the Bhavnagar launch, Shri Thakkar highlighted the company's commitment to Atmanirbhar Bharat, Swachh Bharat and its green mobility vision supporting the government.

As of the June 2025 quarter, Forbes EMF owned 3,000,000 shares, or around a 1.58% stake in Mercury EV Tech's total outstanding equity. While the number of FII/FPI investors jumped from eight to nine, according to Trendlyne data, the total ownership of this stake, which is a portion of the broader FII/FPI category, is around 1.90%, a slight drop from 1.92% in March 2025.

Mercury Ev-Tech has declared that it became a subsidiary of Haitek Automotive Private Limited after acquiring 3,50,000 equity shares comprising 70% stake of the firm, during the quarter that concluded in June 2025.

Mercury EV-Tech has embraced the innovation and independence that comes from in-house manufacturing. The company manufactures major EV parts, including batteries, chassis and motor controllers, equipped with a CED coating plant to guarantee quality and price competitiveness. In a bold move towards 'Atmanirbhar Bharat', the company is setting up one of the country's largest Lithium-Ion battery manufacturing facilities in Vadodara with a capacity of 3.2 GWh. The plant is anticipated to start pilot production shortly, serving broad applications that span electric vehicles to Battery Energy Storage Systems (BESS).

With strong R&D capabilities and increased product offerings, Mercury EV-Tech is strategically poised to take advantage of the fast-growing domestic EV and energy storage market, which is also supported by government policies and the increasing demand for clean energy solutions.