Stellantis, the parent company of Jeep and Citroën, is set to introduce electric vehicles (EVs) from its Chinese partner, Leapmotor, into the Indian market by the end of 2024. This move marks the entry of the third Chinese EV brand into India, following SAIC’s MG and BYD. The initiative is part of a global expansion strategy through Leapmotor International, a 51:49 joint venture between Stellantis and Leapmotor, aiming to bring affordable EV technology to various markets, including India.
The initial offerings in India are expected to include the T03, a compact five-door urban commuter car, and the C10, a high-end electric SUV. The T03 boasts a 265 km WLTP range, while the C10 offers a 420 km WLTP range and has received a 5-star E-NCAP rating. These models are designed to cater to the premium segment, targeting competitors like the Tata Tiago EV and MG ZS EV.
To navigate India’s high import tariffs on completely built units (CBUs), Stellantis plans to assemble these EVs locally. Potential manufacturing sites include Stellantis’ existing facilities in Tamil Nadu and Maharashtra. This approach aims to make the EVs more competitively priced and accessible to Indian consumers.
The Indian market entry is part of Leapmotor International’s broader strategy, which includes launching EVs in nine European countries starting September 2024, followed by expansions into South America, the Middle East, Africa, and the Asia-Pacific region. The joint venture plans to introduce at least one new model annually over the next three years, focusing on zero-emission vehicles to contribute to Stellantis’ goal of a 50% reduction in emissions by 2030.
Stellantis’ investment of approximately €1.5 billion in Leapmotor, acquiring around 21% equity, underscores its commitment to this partnership. The collaboration aims to leverage Stellantis’ global distribution networks and Leapmotor’s innovative EV technology to offer affordable mobility solutions worldwide.
As the Indian EV market continues to grow, Stellantis’ introduction of Leapmotor’s vehicles is poised to offer consumers more choices in the premium electric vehicle segment, potentially reshaping the landscape of sustainable mobility in the country.
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