PG Electroplast partners with Spiro for EV production
PGEL’s subsidiary PG Technoplast will establish and manage manufacturing facilities in India, dedicated to the production of electric vehicles, lithium-ion batteries and related components.
Making inroads into the electric vehicle (EV) and lithium-ion battery assembly segments, PG Electroplast Ltd (PGEL) has signed an agreement with Spiro Mobility, Africa’s largest EV player, to become its exclusive manufacturing partner in India.
PGEL’s subsidiary, PG Technoplast Ltd, will establish and manage state-of-the-art manufacturing facilities in India, dedicated to the production of electric vehicles, lithium-ion batteries, and related components, according to media reports.
PG Technoplast will also oversee the procurement of raw materials and parts according to the specifications provided by Spiro Mobility. This division of responsibilities between the two companies is designed to play to each partner’s strengths, ensuring efficient production processes and strong market penetration.
While PG Technoplast will focus on manufacturing and the supply chain, Spiro Mobility will handle aspects such as research and development, marketing, sales, and distribution of the EV products manufactured by PG Technoplast.
“The company’s entry into EV and Lithium-Ion batteries manufacturing opens up a new horizon of growth for the company, and with Partner like Spiro, the company is confident that this association will go a long way and become a sizeable player in the EV market in India,” said Vishal Gupta, Managing Director (Finance), PG Electroplast.
“PG’s proven track record and professional approach instill confidence that this partnership will drive mutual success and further accelerate the growth of the EV market in emerging economies,” Kaushik Burman, CEO of Spiro Mobility, said.
The collaboration aims to strengthen both companies’ foothold in the EV sector and support the broader adoption of sustainable mobility solutions in India. Spiro Mobility is an emerging player in the electric mobility space, focusing on sustainable and affordable transportation solutions.
PG Electroplast, which specializes in EMS and plastic molding solutions, is reportedly projecting revenue of ₹5-6 billion from its EV business over the next two to three years.
