PG Electroplast informed that its wholly owned subsidiary, PG Technoplast has signed a definitive agreement with Spiro Mobility to manufacture electric vehicles (EVs) of Spiro Mobility (Spiro) in India.

The primary responsibility of the company will be setting up and managing the manufacturing facilities for electric vehicles, lithium-ion batteries, and related components.

The company was also tasked with procuring parts and raw materials as specified by Spiro.

On the other hand, Spiro Mobility took responsibility for research and development,
marketing, sales, and distribution of the EV products manufactured by PG Technoplast.

Vishal Gupta, MD (Finance), PG Electroplast (PGEL) said, The companys 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 Africas largest EV player and we are excited to partner with PG Technoplast for manufacturing the EVs and Lithium-Ion Batteries.