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MERCURYEV · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
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Mercury Ev-Tech Ltd, through its wholly owned subsidiary PowerMetz Energy Pvt. Ltd., has announced the commissioning of a 3.2 GW lithium-ion battery manufacturing facility at its Vadodara campus in Gujarat. The plant will produce multiple battery chemistries including LFP, NMC, Sodium-Ion cells, and supercapacitor modules, targeting EVs, grid storage, home backup, and industrial applications. Fully robotic production equipment has been ordered from a top-tier Chinese supplier, with shipment expected by end-April 2025 and pilot production set to begin mid-May 2025. The company also disclosed plans for an additional 3.2 GW battery plant in South India, with preliminary land evaluations underway across four to five locations. The announcement comes amid strong policy tailwinds, with over 30 GW of Battery Energy Storage Systems (BESS) auctioned in India in the past six months and a regulatory mandate requiring two hours of BESS integration with government renewable projects.
This represents a major scale-up that repositions Mercury Ev-Tech from an EV assembler into a deep-tech battery and energy storage player, aligning it with strong government-driven demand for BESS. However, the significant capital outlay and execution risk on a large greenfield project will be key things for investors to watch.