Stellantis, the world’s fourth largest automotive group, is currently selling cars from three different brands – Citroen, Jeep and Maserati in the Indian market. Seeing the rising interest from global EV players, Stellantis is exploring the possibility of introducing Leapmotor, a Chinese EV brand in India. The automotive group currently has a 20% stake in Leapmotor EVs, which it acquired in October 2023 for Euro 1.5 billion (approx Rs 13,500 crore).
Under this strategic deal, Stellantis formed Leapmotor International for the export, sale and manufacturing of Leapmotor products outside Greater China. The company is conducting a feasibility study on launching Leapmotor in India. Stellantis could introduce multiple products from Leapmotor portfolio, which will be priced in the range from sub-Rs 10 lakh to Rs 40 lakh.
Stellantis could initially bring the EVs as CKD units and assemble them at its Ranjangaon based facility. If the project passes the commercial feasibility, the company could start locally producing these EVs. The report reveals that Stellantis could introduce the Leapmotor EVs in India in the next 1 year.
The Leapmotor EVs are likely to be sold through the existing dealer network of Stellantis India. The company hopes that the new EVs will increase showroom footfalls. Not just India, Stellantis is also considering building low-cost EVs in Italy as part of its agreement with Leapmotor.
Source – AutoCarIndia
