PG Electroplast Ltd (PGEL) has announced a significant move into the electric vehicle (EV) and lithium-ion battery assembly space. Through its wholly owned subsidiary PG Technoplast Ltd, the company has signed a definitive agreement with Spiro Mobility, Africa’s largest EV player, to become its exclusive manufacturing partner in India. This partnership marks PGEL’s first foray into the rapidly expanding EV sector and signals its ambition to become a key player in the industry.
Under the agreement, PG Technoplast will establish and manage state-of-the-art manufacturing facilities for EVs, lithium-ion batteries, and related components. The company will also oversee the procurement of raw materials and parts as per Spiro’s specifications. Meanwhile, Spiro Mobility will focus on research and development, marketing, sales, and distribution of the EV products manufactured by PG Technoplast. This division of responsibilities is expected to leverage the strengths of both organisations, enabling efficient production and market penetration.
Vishal Gupta, Managing Director (Finance) of PG Electroplast, highlighted the strategic importance of aligning with a partner like Spiro, whose expertise in the African EV market provides a robust foundation for success in emerging economies.
Kaushik Burman, CEO of Spiro Mobility, noted that PG Technoplast’s proven track record and professional management inspire confidence in the partnership’s potential. He emphasised that the collaboration is well-positioned to drive mutual growth and contribute to the expansion of the EV ecosystem in India and other emerging markets.