Mercury EV-Tech Strengthens Pan-India Distribution with 100 New Dealers, Targets 200 More by March 2027
Company’s electric two- and three-wheelers also become eligible for applicable GEDA subsidies in Gujarat
Mercury EV-Tech Limited (BSE: 531357, NSE: MERCURYEV) is strengthening its distribution footprint and market presence across India with the appointment of 100 new dealers over the past four months, while targeting the addition of a further 200 dealers by March 2027. The company has also received clearance from the Gujarat Energy Development Agency (GEDA) for marketing its battery-operated electric two-wheelers and three-wheelers in Gujarat, making eligible customers entitled to applicable subsidies under the prevailing scheme.
The addition of 100 dealers strengthens its retail distribution and after-sales service network across key electric vehicle markets. With the planned appointment of another 200 dealers by March 2027, it aims to further expand its geographical reach, improve last-mile accessibility for customers and strengthen its presence across urban and semi-urban markets.
The dealer network expansion is aligned with its objective of scaling its distribution infrastructure alongside its growing manufacturing capabilities and increasing demand for electric mobility solutions.
Electric Vehicles Eligible for GEDA Subsidies in Gujarat
In a further boost to its market expansion in Gujarat, Mercury EV-Tech has received clearance from GEDA to market its battery-operated two-wheelers and three-wheelers in the state. Under the applicable scheme and eligibility conditions, eligible electric two-wheelers can receive a subsidy of ₹12,000 per vehicle, while eligible electric three-wheelers can receive a subsidy of ₹48,000 per vehicle.
The availability of these subsidies is expected to enhance the affordability of its electric vehicles for eligible customers and support the adoption of electric mobility in Gujarat.
With its expanding dealer network, increasing manufacturing capabilities and growing eligibility of its products under applicable state subsidy schemes, Mercury EV-Tech believes it is well positioned to further strengthen its market presence and support the growth of its electric vehicle business.
Recognizing the growing need for greener, cleaner and non-conventional sources of power, Mercury EV-Tech Limited has evolved its focus towards developing innovative and advanced electric mobility solutions. With a vision to contribute to the future of sustainable transportation, it has built capabilities across electric two-wheelers, three-wheelers and commercial four-wheelers.
Under the vision of its founder, Jayesh Thakkar, it identified electric vehicles as one of the most promising mobility solutions for the future and built extensive R&D capabilities and know-how across electric two-wheelers, three-wheelers and commercial four-wheelers.
Today, its operations are anchored by an 18-acre manufacturing state of art facility near Por in Vadodara, Gujarat, strategically located along the Golden Quadrilateral. Its manufacturing capabilities are designed to support the development of electric mobility solutions while contributing to the broader objectives of Atmanirbhar Bharat and sustainable development by enabling the transition from conventional fuels to clean electric mobility.
With a focus on in-house manufacturing and the “Make in India” initiative, it maintains greater control over quality and costs while reducing dependency on third-party vendors. It manufactures key electric vehicle components in-house, including EV batteries, chassis, commercial chargers and electric vehicle chargers, supported by its own Cathodic Electro Deposition (CED) coating plant which is one of the largest in state of Gujarat.
From individual EV components to complete electric vehicles, Mercury EV-Tech is building an integrated manufacturing ecosystem focused on advancing India’s transition towards clean and sustainable mobility.