Mercury EV-Tech Limited has announced key changes to its Board of Directors following the resignations of two important members. These developments demonstrate the company’s commitment to strong governance as it continues to expand its presence in India’s fast-growing electric vehicle (EV) sector.
Leadership Changes for Strategic Continuity
At a Board meeting held today between 3:30 p.m. and 4:30 p.m., Mercury EV-Tech accepted the resignations of two directors:
- Manshi Jain, who served as an Independent Director, resigned due to personal and unavoidable circumstances. Her resignation became effective after business hours on April 26, 2025.
- Arif Rajjak Sayyad, a Non-Executive Non-Independent Director, stepped down due to other professional commitments.
Importantly, both directors confirmed that their resignations were purely for personal and professional reasons, without any other material concerns. The company has made all required regulatory disclosures to the BSE, ensuring complete transparency with investors and stakeholders.
Board Committees Reconstituted for Stronger Governance
In response to these leadership changes, Mercury EV-Tech has restructured its Board Committees to ensure continued strong oversight.
Audit Committee
- Chairman: Sachin Shivaji Wagh
- Members: Dinesh Kumar Sinha and Jayesh Raichandbhai Thakkar
Nomination and Remuneration Committee
- Chairman: Dinesh Kumar Sinha
- Members: Sachin Shivaji Wagh and Ajay Ramkrishna Shukla
Stakeholders Relationship Committee
- Chairman: Sachin Shivaji Wagh
- Members: Dinesh Kumar Sinha and Darshankumar Jitendra Shah
These appointments are designed to maintain the integrity of Mercury EV-Tech’s governance systems while supporting its long-term vision for growth and innovation.
Mercury EV-Tech’s Expanding Role in India’s EV Industry
Founded originally as Mercury Metals Limited in 1986, the company rebranded in 2023 to Mercury EV-Tech Limited. This marked a major shift toward sustainable mobility solutions.
Today, Mercury EV-Tech’s offerings include:
- Electric two-wheelers, three-wheelers, and four-wheelers
- Buses and specialty vehicles such as golf carts and vintage models
Furthermore, the company has built a vertically integrated manufacturing system, producing key components like batteries, battery management systems, chassis, and motor controllers in-house. It also operates one of Gujarat’s largest Cationic Electro Deposition (CED) coating plants, enhancing durability and quality across its vehicle lineup.
Supporting the EV Ecosystem with Powermetz Energy
Mercury EV-Tech’s subsidiary, Powermetz Energy, plays a crucial role in the company’s ecosystem by manufacturing lithium-ion batteries. With a current output of approximately 50 units per day, Powermetz Energy is contributing significantly to India’s growing EV infrastructure needs.
