PG Technoplast Teams Up with Spiro Mobility to Enter EV and Lithium-Ion Battery Manufacturing

PG Electroplast Ltd (PGEL) has made a bold move into the electric vehicle (EV) and lithium-ion battery assembly sector through its subsidiary, PG Technoplast Ltd. The company has signed a significant agreement with Spiro Mobility, Africa's largest EV player, to become its exclusive manufacturing partner in India. This partnership marks PGEL's first entry into the rapidly expanding EV industry, underscoring the company's ambition to establish itself as a key player in the sector.

As part of the agreement, PG Technoplast 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. 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 crucial aspects such as research and development, marketing, sales, and distribution of the EV products manufactured by PG Technoplast.

Vishal Gupta, the 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 strong foundation for success in emerging markets, particularly in India. Gupta emphasized that Spiro's knowledge of the electric vehicle industry and its established presence in Africa would provide PGEL with a valuable platform for penetrating similar emerging markets in Asia and beyond. Gupta also noted that the collaboration would open up new growth avenues for PG Technoplast and PGEL, enabling them to tap into the growing demand for electric vehicles and energy storage solutions in India and other regions.

Kaushik Burman, CEO of Spiro Mobility, expressed confidence in the partnership, citing PG Technoplast’s proven track record and professional management as key reasons for their decision to collaborate. He emphasized that PG Technoplast’s strong capabilities in manufacturing, combined with Spiro Mobility’s experience in the EV sector, would create a powerful synergy that could drive mutual growth and accelerate the adoption of electric vehicles. Burman also pointed out that the collaboration is well-positioned to expand the EV ecosystem not only in India but also in other emerging markets where demand for sustainable mobility solutions is on the rise.

This partnership between PG Technoplast and Spiro Mobility reflects the growing importance of electric vehicles in the global automotive industry. By joining forces, the two companies aim to drive innovation, increase production capacity, and contribute to the expansion of the EV market in India and other developing regions. The alliance is expected to play a key role in advancing sustainable mobility solutions, reducing carbon emissions, and meeting the growing global demand for clean energy alternatives. With their combined strengths, PG Technoplast and Spiro Mobility are poised to make a significant impact on the electric vehicle ecosystem, not only in India but across emerging markets worldwide.