Mercury EV-Tech Bags Order of Rs. 110 Cr For EV Manufacturing, Scrip Up 2700% In 1 Year

Mercury EV-Tech Limited, engaged in development of innovative and advanced electric mobility solutions in India, has planned manufacturing of wide range of electric vehicles like 2W (Low Speed), 2W (High Speed), 3W (Low Speed-Passenger), 3W (Low Speed-Loader), 3W (High Speed-Passenger), 3W (High Speed-Loader), 4W (High Speed Loader), 12-seater offroad Bus, 56-seater bus. The company is already manufacturing 2W and 3W lithium-ion Batteries for industry leaders through its subsidiary PowerMetz Energy Private Limited.

The company has received an open order worth Rs. 110 Cr for supply of lithium-ion battery from one of leading 2W EV manufacturers of India, which will be game changer for the industry in future. Recently, the company has updated to exchange that they have received L3 license for 3W-Passenger and 3W-Loader.

The company will start its Global Headquarter and State of Art Facility for production of its wide range of products by end of August 2023. The company's State of Art Facility is having inhouse facility of CED Coating Plant (One of the largest in Gujarat), Chassis Manufacturing, 3W Body manufacturing facility etc.

Recently, Mercury EV-Tech Limited through its 80% owned subsidiary Powermetz Energy Private Limited has received ISO 9001:2015 Quality Management Systems accreditation for its activities as a manufacturer and exporter of various grades of battery packs such as Lithium lon, LiFePO4, LFP and other Advance Chemistry Battery Packs.

Earlier, the company established R&D base for new product development in Traction Mobility Battery packs at 2nd Floor, No. 180, MFar Silverline Tech Park, Whitefield, EPIP 2nd Phase, Bengaluru, Karnakata - 560066 where they have planned to deploy around 20 New Models upto 96V 250AH with AIS Compliance and Battery Storage systems upto 1MW Containerize Solutions, with team of 7 (Seven) well experience battery technology experts to boost R&D and New Product Development.

Mercury EV-Tech Limited is pioneer in the manufacturing of Electric Scooter, Electric Car, Electric Bus, Electric Vintage car, Electric Golf Car and Electric Vehicles in India. The company develops custom electric vehicles for a wide range of applications, including hospitality, industry, golf courses, Club and Resorts. Recently, company started its R&D efforts on Electric 2W, 3W, and 4W. Company has already started development of key component like chassis of 2W and 3W.

Mercury EV-Tech has formed an in-house assembly line for the 2W & 3W products where production of 2W has been started with brand name of "EZ" and "Smart". The Company has introduced this model in market with 130+ dealers network PAN India. Company owns an 18-acre land where it has started setting up in-house facility for manufacturing key components like battery, chassis, motor controller, brake shoe, CED paint and already operational assembly line.

The company's mission is to continue towards a responsible and green transportation journey with innovative and advanced Make-in-India electric mobility solutions. It aspires to provide all-inclusive service and charging stations across the nation to push the market towards a clean energy alternative. With its highly-advanced research and development center, the company aims to launch newer, innovative, affordable and energy-efficient electric vehicles and its components. The electric vehicle segment is all set to grow at a fast pace.