PG Electroplast Ltd. (NSE: PGEL), a leader in Electronic Manufacturing Services (EMS) and plastic molding, has announced a major milestone in its expansion strategy. Through its wholly owned subsidiary, PG Technoplast Pvt. Ltd., the company has signed a definitive agreement with Africa’s largest EV player, Spiro Mobility. This partnership will make PG Technoplast the exclusive manufacturing partner for Spiro’s electric vehicles (EVs) and lithium-ion batteries in India.
Under the agreement, PG Technoplast will establish and manage manufacturing facilities for EVs, lithium-ion batteries, and related components, while overseeing the procurement of raw materials. Spiro Mobility will handle research and development, marketing, sales, and distribution.
Vishal Gupta, Managing Director (Finance) of PG Electroplast Ltd., commented, “This entry into EV and lithium-ion battery manufacturing opens a new growth horizon for our company. Partnering with Spiro Mobility positions us to become a significant player in India’s EV market.”
Kaushik Burman, CEO of Spiro Mobility, expressed optimism about the collaboration, stating, “Spiro is excited to partner with PG Technoplast. With their proven execution record and professionalism, we are confident this partnership will expand the EV market in emerging economies.”
PG Electroplast, a trusted name in contract manufacturing for consumer durables, has extensive expertise in plastic injection molding and a robust portfolio of OEM and ODM products such as air conditioners, washing machines, and LED TVs.
