What we do Mercury EV-Tech Ltd designs and manufactures electric vehicles including scooters, cars, buses, and specialty vehicles in India, focusing on automotive electrification and renewables. |
Founded in 1,986 |
Market share Emerging player in India's electric vehicle manufacturing sector with growing market presence and recent major acquisitions. |
Problem solved Offers sustainable, electric mobility solutions to reduce emissions and dependence on fossil fuels across multiple vehicle segments. |
Top clients or who we serve Serves B2B and B2C customers in hospitality, industry, golf courses, and general electric vehicle markets. |
Key management Jayesh Raichandbhai Thakkar (Chairman and Managing Director) |
Our journey and innovations Started in metals in 1986, pivoted to EV manufacturing in 2023, acquired multiple subsidiaries, and commissioned a 3.2 GW lithium-ion battery plant in 2025. |
Where we operate Operations mainly in India with subsidiaries expanding footprint; manufacturing and R&D centered in Gujarat. |
Top products or what we offer Electric scooters, cars, buses, golf and vintage cars; lithium-ion batteries via subsidiary PowerMetz Energy. |
Top brands - |
Raw materials needed Lithium, metals, electronic components for EVs and batteries. |
Raw materials supplier - |
Recurring vs cyclical contribution Revenue driven by increasing sales of EVs and battery products with growth supported by acquisitions. |
Our industry position Positioning as an innovative EV manufacturer with expanding production and product portfolio in Indian market. |
Financial highlights Consolidated revenue Rs. 89.64 Crores with net profit Rs. 7.7 Crores in FY 2025, showing over 200% growth year-on-year. |
Geographical revenue split - |
Order book - |
Whats driving growth Growth driven by electric vehicle adoption, battery manufacturing capacity expansion, and strategic acquisitions. |
Our future plans Focus on R&D in container products, scaling EV and battery manufacturing capacity, and market expansion. |
Our green promise Committed to sustainable mobility solutions and development of renewable energy components. |
Our people and values Governed by experienced leadership, fostering innovation and compliance with corporate governance. |
Key challenges ahead Rapid EV market competition, supply chain risks for raw materials, and scaling manufacturing efficiently. |
Interesting facts Rapid transformation from metals business to large-scale EV and battery manufacturing in less than two years. |
Risks and strategy Mitigates risks via diversification, acquisitions, and strong internal controls with ongoing compliance adherence. |
