Mercury EV-Tech Secures GEDA Approval for Subsidized E-Rickshaws

Jyoti Rathi - Kolkata Bureau Jul 15, 2026 1,500 Views

Mercury EV-Tech has secured a two-year approval from the Gujarat Energy Development Agency (GEDA) to distribute subsidized e-rickshaws. Buyers of the company's designated lithium-ion models will receive a ₹48,000 subsidy per vehicle, supporting the company's growth in Gujarat's electric vehicle market through fiscal years 2026-27 and 2027-28.

The Gujarat Energy Development Agency has greenlit the sale of Mercury EV-Tech’s lithium-ion e-rickshaws, offering buyers a ₹48,000 subsidy per vehicle through 2028.

AHMEDABAD — Mercury EV-Tech Limited has received formal approval from the Gujarat Energy Development Agency (GEDA) to market and distribute a wide range of battery-operated three-wheelers across Gujarat. According to the company’s July 15, 2026, regulatory filing, the two-year authorization covers the fiscal periods of 2026-27 and 2027-28.

This development is a significant milestone for the electric vehicle manufacturer, as it makes its lithium-ion-powered e-rickshaws eligible for a state-backed subsidy of ₹48,000 per unit. By securing this endorsement, Mercury EV-Tech aims to bolster its penetration in the regional transport sector and accelerate the adoption of sustainable mobility solutions.

Expanding E-Mobility in Gujarat

The GEDA-approved list includes a diverse portfolio of models, ranging from low-speed variants to high-performance high-speed e-rickshaws. The approved models include the Tejashvi and Voltus series, as well as specialized models such as the Limosa, DODO, and Kala Ghoda.

For individual owners and institutional buyers in Gujarat, this subsidy serves as a financial incentive to transition from traditional fossil-fuel-powered vehicles to electric alternatives. The initiative is part of broader efforts to promote eco-friendly transportation and reduce carbon emissions within the state.

Impact on Consumers and Market Position

The availability of the ₹48,000 subsidy is expected to lower the total cost of ownership for e-rickshaw drivers and small-scale self-employed entrepreneurs. As Mercury EV-Tech integrates these subsidized vehicles into its distribution network, the company strengthens its standing in the competitive electric three-wheeler (3W) market.

"This approval highlights our commitment to advancing technology, promoting sustainability, and leading the electric vehicle market in Gujarat," the company stated in a recent disclosure. The move comes amidst a broader company strategy to scale its research and development (R&D) efforts across its 2W, 3W, and 4W product lines.

Official Sources

The authorization was confirmed via an official intimation to the BSE Limited and the National Stock Exchange (NSE) on July 15, 2026. Mercury EV-Tech clarified that the subsidy eligibility applies to buyers of its designated lithium-ion-equipped e-rickshaw models sold within Gujarat state.

Why It Matters

For potential buyers, the subsidy provides direct financial relief that significantly offsets the initial purchase price of electric three-wheelers. By lowering the entry barrier for eco-friendly commercial transport, this policy support encourages a faster shift toward electrification in urban and peri-urban transport, aligning with state goals for a cleaner environment.

Key Facts at a Glance

Subsidy Amount: ₹48,000 per vehicle.
Approval Window: Fiscal years 2026-27 and 2027-28.
Authorized Agency: Gujarat Energy Development Agency (GEDA).
Eligible Vehicles: A variety of L3 and L5 category e-rickshaws, including Tejashvi, Voltus, DODO, and Kala Ghoda models.

Frequently Asked Questions (FAQ)

Who is eligible for the ₹48,000 subsidy?

Individuals and institutions purchasing eligible lithium-ion-powered Mercury EV-Tech e-rickshaws within the state of Gujarat are eligible.

Which models are covered under this approval?

The approval covers eleven specific models, including both low-speed and high-speed variants from the Tejashvi, Voltus, Limosa, DODO, and Kala Ghoda series.