PG Electroplast on Monday said it has inked a pact to manufacture electric vehicles of Spiro Mobility.
The company through its wholly owned subsidiary, PG Technoplast, has inked a definitive agreement with Spiro, it said in a statement.
The primary responsibility of PG Technoplast will be setting up and managing the manufacturing facilities for electric vehicles, lithium-ion batteries and related components, it said.
Spiro will be responsible for research and development, marketing, sale, and distribution of the EV products manufactured by PG Technoplast, it added.
"The company's entry into EV and lithium-ion batteries manufacturing opens up a new horizon of growth for the company," PG Electroplast Managing Director (Finance) Vishal Gupta said.
With a partner like Spiro, the company is confident that both the companies will become a sizeable player in the EV market, he added.
The execution track record, coupled with management's professionalism and execution focus, inspires confidence that the association of PG and Spiro will bring mutual success to each other and expand the EV space in emerging markets further, Spiro Mobility CEO Kaushik Burman said.
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