Mercury EV Tech is making headlines in the clean energy sector, with its stock price surging over 3% during Tuesday’s trading session. The company has revealed an ambitious plan to establish a 3.2 GW lithium-ion battery manufacturing facility in Vadodara, marking a significant step forward in India’s transition to sustainable energy. This update positions Mercury EV Tech as a key player in the battery market, showcasing its commitment to innovation and growth.

Strategic Expansion in Battery Manufacturing

In a recent exchange filing, Mercury EV Tech announced that its wholly-owned subsidiary, PowerMetz Energy Pvt Ltd, will spearhead the creation of the new battery facility. This venture is not just about increasing production; it aims to lay the groundwork for long-term energy resilience. Darshal Shah, a representative of the company, mentioned, “We are not merely enhancing capacity; we are establishing a robust platform that will support our future endeavors.”

• Plans are already underway for an additional 3.2 GW battery plant in South India.
• Preliminary assessments for potential locations have been completed, with the final site selection expected to align with operational progress and order volume.

Automation and Technological Advancements

To ensure that the new facility meets global automation standards, Mercury EV Tech has placed an order for a state-of-the-art, fully automated production line from a leading supplier in China. A technical team from India is set to visit the Chinese facility on April 15, 2025, to oversee the pre-shipment processes. The machinery is expected to arrive at the Vadodara site by the end of April, with pilot production slated to begin by mid-May 2025.

This cutting-edge investment signifies Mercury EV Tech’s vision for a future defined by cell innovation, domestic self-sufficiency, and vertical integration, shaping India’s industrial landscape for years to come.

Current Stock Performance

On the trading floor, Mercury EV Tech opened at ₹59 per share, reaching a high of ₹61 and dipping to a low of ₹58.15 during the session. Despite the recent uptick, the stock has faced challenges over the past year, decreasing by 32.5% and underperforming its sector by 31.94%.

• The company reported a 39.54% increase in annual revenue, totaling ₹22.53 crore.
• In contrast, the sector average for revenue growth over the last fiscal year was 18.52%.
• Mercury EV Tech also achieved a 54.48% rise in annual net profit, hitting ₹1.99 crore, although this still lags behind the sector’s average net profit growth of 88.68%.

As Mercury EV Tech continues to make strides in battery production, investors and industry watchers alike will be keen to see how these developments impact the company’s future trajectory in the renewable energy sector.