The electric vehicle segment is growing at a rapid pace with the help of incentives and subsidies offered by the government for both manufacturers and customers. In its endeavor to drive greater adoption of EVs and drive green transportation travel, Mercury EV-Tech has announced the setting up of a new R&D facility and expansion of battery production through its subsidiary.
Mercury Eve-Tech (formerly Mercury Metals Limited) is engaged in the manufacturing of electric scooters, electric cars, electric buses, electric vintage cars, electric golf cars and electric vehicles.
The company said in an exchange filing that it aims to increase production of batteries by two-and-a-half times in the coming fortnight through its subsidiary Powermatz Energy, in which it has 80 per cent ownership. The new facility is in addition to a state-of-the-art 20-acre EV technology and manufacturing facility.
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Kavit Jayeshbhai Thakkar, MD, said in a statement, “This new R&D base is a part of the expansion plan. The company is committed to deliver innovative solutions that meet the evolving needs of customers.”
Besides this, the EV maker has also started operations at a sub-unit in the Greater Noida area of Uttar Pradesh. In addition, the company has also started R&D of traction mobility battery packs in Bengaluru.
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The company has a wide range of products under the ‘Mercury’ brand. Its latest addition to the Mercury brand is the ‘Moosak’, a 4-wheeler. The company said it aspires to provide all-inclusive service and charging stations to push the market towards a cleaner energy option.
The plan also includes launching an affordable and energy-efficient electric vehicle in the coming years.