Business Update15 Jul 2026, 11:45 am
Mercury Ev-Tech Gets GEDA Approval for E-Rickshaw Sales in Gujarat
AI Summary
Mercury Ev-Tech Limited has received approval from the Gujarat Energy Development Agency (GEDA) to market and distribute Battery Operated Three Wheelers (E-Rickshaws) with Lithium-ion batteries in Gujarat for the fiscal years 2026-27 and 2027-28. Buyers of these vehicles will be eligible for a subsidy of ₹48,000 per vehicle. The approval covers 11 models, including low-speed and high-speed variants. Mercury Ev-Tech is required to deposit a refundable security of ₹5,00,000 and adhere to specified ex-showroom prices. The company must complete the process by July 30, 2026.
Key Highlights
- GEDA approval for E-Rickshaw sales in Gujarat for FY27 & FY28.
- Eligible buyers to receive ₹48,000 subsidy per vehicle.
- Approval covers 11 specific E-Rickshaw models.
- Company must deposit ₹5,00,000 security and meet pricing terms.
Price Impact
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