Announced Fri, 11 Sept, 2026 · 10:55 IST
Dealer Network Expansion and GEDA Subsidy Eligibility for EV Products
MERCURYEV · price
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Price reaction · full curve 14 horizons · vs prior close
-1.2%1-day move
₹41.61
prior close
₹42.59
base price
In-mkt
timing
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-0.3-0.5-0.3-1.4-1.2-6.1-0.5-3.9-5.1-6.8-11.1———
Up moveDown movePending
AI summary
Mercury EV-Tech has appointed 100 new dealers across India in 4 months and targets 200 more by March 2027. The company also received GEDA clearance in Gujarat, making its electric 2-wheelers eligible for a 12,000 rupee subsidy and 3-wheelers for a 48,000 rupee subsidy per vehicle, boosting affordability.
Likely market impact
Boosts distribution reach and product affordability in Gujarat via state subsidies, supporting sales growth for the EV business.