PG Electroplast Ltd., through its wholly-owned subsidiary PG Technoplast Pvt. Ltd., has been appointed as the exclusive manufacturing partner for Spiro Mobility’s electric vehicles in India. The partnership was formalized on Monday, November 18, with the signing of a definitive agreement.
Under this collaboration, PG Technoplast will oversee the establishment and operation of production facilities for electric vehicles, lithium-ion batteries, and related components. Additionally, the company will handle the procurement of raw materials and parts as specified by Spiro. Meanwhile, Spiro Mobility will focus on research and development, marketing, sales, and distribution of the EV products manufactured by PG Technoplast.
“This venture into EV and lithium-ion battery production marks a significant growth opportunity for the company. With Spiro as a partner, we are confident of making a strong impact in the Indian EV market,” said Vishal Gupta, Managing Director of Finance, PG Electroplast.
PG Electroplast’s impressive financial performance has further bolstered its ambitions in the EV segment. The company reported a 46% year-on-year revenue growth and a 57% rise in net profit for the September quarter. This led to an upward revision of its annual revenue forecast to ₹4,250 crore from ₹3,650 crore and its profit guidance to ₹250 crore.
Kaushik Burman, CEO of Spiro Mobility, expressed optimism about the alliance, stating, “PG’s proven track record and professional approach instill confidence that this partnership will drive mutual success and further accelerate the growth of the EV market in emerging economies.”
This collaboration aims to strengthen both companies’ foothold in the EV sector and support the broader adoption of sustainable mobility solutions in India. Spiro Mobility is an emerging player in the electric mobility space, focusing on sustainable and affordable transportation solutions. With a mission to revolutionize urban mobility, the company designs and manufactures electric two-wheelers that prioritize energy efficiency, durability, and cost-effectiveness.
Spiro Mobility integrates cutting-edge battery technology and IoT-enabled features to enhance user experience and performance. Targeting environmentally conscious consumers, the brand aims to address the challenges of pollution and rising fuel costs while contributing to India’s broader goals of electric vehicle adoption. By blending innovation with practicality, Spiro Mobility aspires to shape the future of clean, green transportation.
PG Electroplast is a leading Indian company specializing in electronic manufacturing services (EMS) and plastic molding solutions. Established in 2003, the company has carved a niche for itself by catering to a wide range of industries, including consumer electronics, automotive, and appliances.
PG Electroplast provides end-to-end solutions, from product design and prototyping to large-scale production, leveraging advanced manufacturing technologies such as injection molding, assembly lines, and surface mount technology (SMT) for printed circuit boards. Known for its quality and innovation, the company supports renowned brands in India and abroad, reflecting its commitment to fostering efficiency and reliability in its operations.
