EV Stock in Focus: Mercury EV-Tech Gets Nod to Manufacture MUSHAK EV

India's equity benchmarks traded flat on Thursday, as broad-based gains on hopes of progress in trade talks with the United States offset profit booking in information technology stocks after a recent surge. The Nifty 50 rose 0.06% to 24,990.55, while the BSE Sensex gained 0.09 % to 81,501.42 as of 09:19 a.m. IST.

Meanwhile, EV stock- Mercury EV-Tech is in focus after it has announced a significant development in its business operations, securing approval for the manufacturing of its new Special Purpose Battery Operated Vehicle, the "MUSHAK EV". 

This crucial approval, obtained from the International Centre for Automotive Technology (ICAT), marks a pivotal moment for the company and is expected to unlock substantial growth opportunities within the rapidly expanding electric vehicle sector in India.

About Mercury EV-Tech’s MUSHAK EV

The MUSHAK EV is a battery-operated 4W Goods Carrier classified under the N1 category. Designed with practical applications in mind, it boasts a Gross Vehicle Mass (GVM) of 2085 kg and a seating capacity for 02 persons. The vehicle is capable of reaching a maximum speed of 69 KMPH.

Highlighting its robust design and strategic positioning, the MUSHAK EV comes with several key features:

• Unbreakable body: Ensuring enhanced durability and safety for its operators and cargo.
• 100% Make in India: This emphasises its complete manufacturing within India, aligning with national initiatives to support local industries and promote self-reliance.
• Eligible for upcoming Government Subsidy: The vehicle qualifies for forthcoming subsidies from the government, which could make it an even more attractive option for businesses and further boost its market adoption.

The approval for manufacturing the MUSHAK EV is not merely a regulatory formality; it represents a "Regulatory Milestone Achieved" for Mercury EV-Tech Limited. This development is anticipated to create "new pathways for revenue and expansion," signifying "Growth Opportunities Unlocked" for the company. 

The MUSHAK EV is described as a "Market-Driven Product Launch," indicating that its design and features are specifically tailored to address consumer needs while simultaneously driving business growth. Furthermore, this move is expected to contribute to "Operational Excellence," strengthening the company's overall performance and results.

The license obtained from ICAT is valid in "Perpetuity," providing long-term stability and certainty for Mercury EV-Tech's manufacturing plans. The company has confirmed that there has been no withdrawal, cancellation, or suspension of this license.

Mercury EV-Tech Share Price 

On Thursday, Mercury EV-Tech's share price jumped over 1.5% to an intraday high of ₹50.80 per share. As of 10:26 am, the stock price was trading at ₹50.46 per share, up by 1.02%.