Mercury EV-Tech Limited has achieved a significant milestone in its journey towards sustainable transportation solutions. The company recently obtained approval from the International Centre for Automotive Technology (ICAT) to manufacture the MUSHAK EV, an innovative battery-operated 4-wheeler goods carrier vehicle.

Key Features of MUSHAK EV

The MUSHAK EV boasts impressive specifications that position it as a strong contender in the electric commercial vehicle market:

What sets the MUSHAK EV apart are its unique features:

1. Unbreakable Body: Ensuring durability and safety for goods transportation.
2. 100% Make in India: Supporting local industries and aligning with the nation's self-reliance initiatives.
3. Government Subsidy Eligibility: Qualifying for upcoming government subsidies, potentially making it an attractive option for businesses.

Strategic Implications for Mercury EV-Tech

The approval from ICAT represents more than just a regulatory clearance. According to the company's disclosure to the BSE, this development is viewed as a significant regulatory milestone that unlocks several growth opportunities:

• Market Expansion: The approval paves the way for Mercury EV-Tech to enter the electric goods carrier segment, diversifying its product portfolio.
• Revenue Growth: With the green light for manufacturing, the company can now commercialize the MUSHAK EV, potentially opening new revenue streams.
• Operational Excellence: This achievement is expected to strengthen the company's overall performance in the electric vehicle sector.

Long-Term Prospects

Importantly, the manufacturing approval for the MUSHAK EV is valid in perpetuity. This long-term clearance provides Mercury EV-Tech with a stable foundation to plan and execute its production and marketing strategies without the immediate concern of regulatory renewals.

As the electric vehicle market in India continues to evolve, especially in the commercial segment, Mercury EV-Tech's MUSHAK EV could play a pivotal role in addressing the growing demand for eco-friendly goods transportation solutions. The company's focus on durability, local manufacturing, and potential cost benefits through government subsidies positions the MUSHAK EV as a promising product in the emerging electric commercial vehicle landscape.

Mercury EV-Tech Limited , a player in the electric vehicle (EV) sector, recently engaged in a significant meeting aimed at fostering international collaboration in EV technology. The company participated in discussions with a delegation from the Korea Smart e-Mobility Association (KEMA) at the Gujarat Chamber of Commerce & Industry (GCCI), focusing on potential technology transfer between India and Korea.

Key Highlights of the Meeting

• Objective: The meeting aimed to facilitate technology knowledge transfer for electric two-wheelers and lithium-ion batteries development.
• Korean Delegation: Led by KEMA Chairman Deuk-un Lee, who is also the Chairman of HB e-Mobility.
• Mercury EV-Tech Representation: Chairman and Managing Director Jayesh Thakkar and Executive Director Darshan Shah represented the company.

Delegation Composition

The KEMA delegation included several key figures in the e-mobility sector:

• Mr. Deuk-un Lee - Chairman of KEMA and HB e-Mobility
• Prof. Jung-Suk Ryou - Chief Representative for India, KEMA
• Mr. Su-chang Oh - Chief Representative for Indonesia, KEMA
• Dr. Im Ki Seo - Managing Director, KEMA

Potential Impact

This meeting marks a significant step for Mercury EV-Tech Limited in exploring international collaborations. The focus on technology transfer for electric two-wheelers and lithium-ion batteries could potentially enhance the company's capabilities in the rapidly evolving EV market.

Company Statement

In an official statement to the BSE, Mercury EV-Tech Limited confirmed their participation in the meeting, emphasizing the collaborative nature of the discussions. The company also shared a photograph from the event, underlining the importance of this international engagement.

The collaboration between Indian and Korean entities in the e-mobility sector could pave the way for advancements in EV technology, particularly in the two-wheeler segment and battery development. As the global push for sustainable transportation solutions continues, such international partnerships may play a crucial role in accelerating technological progress and market growth in the EV industry.

Investors and industry observers will likely keep a close watch on any further developments or formal agreements that may arise from this initial meeting between Mercury EV-Tech Limited and the KEMA delegation.