One of the World’s largest automotive conglomerate, Stellantis could be planning to bring a new EV manufacturer to the Indian soil. Reports suggest that Stellantis is likely to join hands with Leapmotor to bring the Chinese brand to India. The brand is likely to introduce electric vehicles which are likely to be in the INR 10 lakh to INR 40 lakh range.
Stellantis and Leapmotor
Reports suggest that Stellantis already has a strategic investment of EUR 1.5 Billion into the company which gives them 20% stakes. In addition to this, a new deal with a 51:49 ratio is likely to have been outlined. This will bring Stellantis to the helm of the company with exclusive rights to export and manufacture Leapmotor products outside of China.
Stellantis currently has three brands in the Indian market – Maserati, Jeep and Citroen. Upon launch, Leapmotor will become the fourth and the only EV dedicated brand under the Stellantis umbrella. Currently, Stellantis is studying the possibility of importing the cars and assembling them in India.
If the brand finds commercial feasibility, Stellantis could imports the EVs in CKD (Completely Knocked Down) kits and assemble the EVs at the Ranjangoan production plant near Pune. To further strengthen the economies of scale, Stellantis could also start localisation of the Leapmotor EVs bringing the price to a highly competitive level.
Leapmotor EVs
In the Chinese market, Leapmotor currently offers three products – C01, C11 and T03. The brand will soon be introducing another C10 SUV in the Chinese market. For India, the brand is likely to bring the T03 mini hatchback ev as well as the C11 SUV. This is likely to give the brand a wider audience and also compete with brand’s like Tata and Mahindra in the EV segment.
Reports suggest that Stellantis plans to bring the Leapmotor electric vehicles in the Indian market as soon as 2025.
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