PG Technoplast enters EV and Lithium-Ion battery assembly

The primary responsibility of PG Technoplast will be setting up and managing the manufacturing facilities for electric vehicles, Lithium-Ion batteries and related components

PG Electroplast Ltd. (PGEL), one of the pioneers and leaders in electronic manufacturing services and plastic molding, through its wholly owned subsidiary, PG Technoplast Pvt. Ltd., has signed a definitive agreement with Spiro Mobility to become an exclusive manufacturing partner for manufacturing of the EVs of Spiro Mobility (Spiro) in India.

The primary responsibility of PG Technoplast will be setting up and managing the manufacturing facilities for electric vehicles, Lithium-Ion batteries and related components and for procurement of parts and raw materials for the same as specified by Spiro. Spiro shall be responsible for Research and development, marketing, sale, and distribution of the EV products manufactured by PG Technoplast.

Commenting on this occasion, Vishal Gupta, Managing Director (Finance), PG Electroplast Limited (PGEL) said, “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.”

Kaushik Burman, CEO of Spiro Mobility said, “Spiro is Africa’s largest EV player and we are excited to partner with PG Technoplast Pvt. Ltd. for manufacturing the EVs and Lithium-Ion batteries. The great execution track record, coupled with management's professionalism and execution focus, inspires confidence that the association of PG and Spiro will bring mutual success to each other and expand the EV space in emerging markets further.”