PG Electroplast Limited — Updates, 18-11-2024: Press Release

PG Electroplast, through its wholly-owned subsidiary PG Technoplast, has entered a partnership with Spiro Mobility to manufacture electric vehicles (EVs) and lithium-ion batteries in India. PG Technoplast will establish and manage manufacturing facilities, while Spiro will oversee research, development, marketing, and sales of the products. This strategic move positions PG Electroplast to tap into the growing EV market, reflecting a positive outlook for future growth. According to Mr. Vishal Gupta, Managing Director (Finance) of PGEL, this collaboration marks a significant step towards becoming a prominent player in the Indian EV landscape, leveraging Spiro's established expertise as Africa’s largest EV player. Both companies anticipate mutual success and expansion in emerging markets through this alliance.