PG Electroplast Targets ₹500-600 Cr EV Revenue by 2027
Over the next two to three years, PG Electroplast (PGEL), a prominent provider of plastic molding and electronic manufacturing services, anticipates that its electric vehicle (EV) division will generate between ₹500 and ₹600 crore in sales.
The company will need to invest $3–4 million in order to start its EV operations with a new capacity. It is anticipated that the overall investment over the course of two years will reach $5–6 million as the business grows.
According to MD-Operations Vikas Gupta, they are confident in sustaining return ratios in line with the financial benchmarks, despite the little investment and the fast asset turnover of the EV market.
On November 18, PG Technoplast, a wholly-owned subsidiary of PG Electroplast, inked a final contract to become Spiro Mobility’s sole manufacturing partner in India.
As part of the deal, PG Technoplast will be in charge of setting up and running production plants for lithium-ion batteries, electric cars, and associated parts.
In accordance with Spiro Mobility’s requirements, the subsidiary will also manage the acquisition of raw materials and parts. Read More- https://voiceofleaders.com/pg-electroplast-aims-for-%e2%82%b9500-600-crore-revenue-from-ev-sector-in-the-next-2-3-years/