Mercury EV-Tech Limited submitted a regulatory disclosure under SEBI Listing Regulations (Regulation 30) regarding significant business updates related to its distribution network expansion and market presence strengthening across India.
Expansion of Pan-India Dealer Network
- The company appointed 100 new dealers across India during the last four months (approximately May to August 2026).
- This expansion strengthens the company's retail distribution and after-sales service network across key electric vehicle markets.
- The company has set a target of appointing an additional 200 dealers by March 2027.
- The expansion aims to enhance geographical reach, improve last-mile accessibility for customers, and strengthen presence across urban and semi-urban markets in India.
- This dealer network expansion aligns with the company's objective of scaling distribution infrastructure in line with growing manufacturing capabilities and increasing demand for electric mobility solutions.
Eligibility under GEDA Subsidy Scheme
- The company received clearance from the Gujarat Energy Development Agency (GEDA) for marketing its battery-operated two-wheelers and three-wheelers in the State of Gujarat.
- This clearance makes eligible customers entitled to applicable subsidies under the prevailing GEDA scheme.
- Subsidy amounts as per applicable scheme and eligibility conditions:
- Electric Two-Wheelers (2W): ₹12,000 per vehicle
- Electric Three-Wheelers (3W): ₹48,000 per vehicle
- The availability of these subsidies is expected to enhance affordability of the company's electric vehicles for eligible customers and support electric mobility adoption in Gujarat.
The company believes that the continued expansion of its dealer network, increased manufacturing capabilities, and eligibility under state subsidy schemes will further strengthen its market presence and support the growth of its electric vehicle business.