The electric vehicle segment is growing at a fast pace with the help of incentives and subsidies being offered by the government for both manufacturers and customers. In its endeavour to push for the greater adoption of EVs and green transportation journey, Mercury Ev-Tech has announced to set up a new R&D facility and also expand battery production through its subsidiary.
Mercury Ev-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 in an exchange filing said that it aims to increase the production of batteries by at two-and-a-half times in the coming fortnights through its subsidiary PowerMetz 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.
ALSO READ: Go First crisis: Aircraft lessors approach DGCA to deregister 45 planes | DETAILS
"This new R&D base is a part of expansion plan. The company is committed to delivering innovative solutions that meet the evolving needs of customers," Kavit Jayeshbhai Thakkar, MD, said in a statement.
Apart from this, the EV maker has also started operations at a sub-unit in Uttar Pradesh's Greater Noida area. Besides, the company has also started R&D of Traction Mobility Battery packs in Bengaluru.
ALSO READ: RBI imposes Rs 1.73 crore penalty on HSBC for non-compliance with Indian norms
The company has a wide range of products under the brand 'Mercury'. Its latest inclusion to the Mercury brand is a 4-wheeler ‘Musak’. The company said that it aspires to provide all-inclusive service and charging stations to push the market towards a clean energy alternative.
The plan also includes launching an affordable and energy-efficient electric vehicles in the coming years.
