Mercury EV Tech’s stock was in the spotlight on Tuesday, rising by 7% to reach an intraday high of ₹61. This jump in share price came after a major business announcement.
The company revealed that it is playing a significant role in India’s clean energy movement by setting up a 3.2 GW battery manufacturing plant in Vadodara. They also shared their future business plans as part of this update.
Details of the New Battery Plant
In an official filing, the company shared that its fully-owned subsidiary, Powermatz Energy Private Limited, will build the 3.2 GW lithium-ion battery production facility in Vadodara.
To make this happen, Mercury EV Tech has placed an order for a fully automated, high-capacity production line from a top equipment supplier in China.
A technical team from India will visit the Chinese facility on April 15, 2025, before the machinery is shipped. The equipment is expected to arrive in Vadodara by the end of April, with pilot production set to begin by mid-May 2025.
The equipment is expected to arrive at the Vadodara site by the end of April, and pilot production is planned to start in mid-May 2025.
Stock Performance Overview
According to Trendline data, Mercury EV Tech’s stock has seen a 33% drop so far in 2025. Over the last six months, it has fallen by 50%, and in the past year, it is down by 30%.
Despite this short-term decline, the company has delivered outstanding long-term returns. In the last five years, its stock price has surged from just 38 paise to its current level, giving investors a massive return of around 16,000%.
the stock has delivered outstanding returns in the long run. In the last five years, the share price has risen from just ₹0.38 to its current level, giving a massive return of around 16,000%.
