PG Electroplast Ltd (PGEL) made entry into the electric vehicle (EV) and lithium-ion battery assembly industry.
Through its wholly-owned subsidiary, PG Technoplast Ltd, the company has signed a definitive agreement with Spiro Mobility, one of Africa’s largest EV player, to become its exclusive manufacturing partner in India.
The PG Technoplast, Spiro Mobility marks PGEL’s first major step into the rapidly growing EV sector, signalling its intent to establish a strong foothold in the industry.
Partnership Agreement and Manufacturing Setup
As part of the agreement, PG Technoplast will take the lead in setting up and managing advanced manufacturing facilities for EVs, lithium-ion batteries, and other related components.
Additionally, the company will handle the procurement of raw materials and parts, adhering to Spiro Mobility’s specifications.
In turn, Spiro Mobility will focus on areas such as research and development, marketing, sales, and distribution of the EV products produced by PG Technoplast.
By clearly defining these roles, the PG Technoplast, Spiro Mobility partnership aims to optimize both production efficiency and market penetration.
Strategic Importance of the Collaboration
Vishal Gupta, Managing Director (Finance) of PG Electroplast, underscored the strategic value of collaborating with Spiro Mobility.
He emphasized that Spiro’s extensive expertise in the African EV market provides PGEL with a strong foundation for success in emerging economies. The demand for EVs is on the rise.
Mutual Growth and Expansion Opportunities
Kaushik Burman, CEO of Spiro Mobility, expressed confidence in the partnership’s potential. He cited PG Technoplast’s established track record and professional management.
As reported by mobilityoutlook.com, Burman emphasized that the collaboration is well-positioned to drive mutual growth. It will contribute significantly to expanding the EV ecosystem in India and other emerging markets.
