Stellantis to Launch New Cars in India, Not Making Investments Under Revised EV Policy

Strategic Insights -

Stellantis, the world's top carmaker, is set to launch new petrol and electric cars in India, but will not invest under the government's revised EV incentive policy for local manufacturing. Despite selling only 7,500 units last year in the domestic market, the company is bullish on the India-EU FTA, which it believes will help introduce global models and technologies faster into the country. Stellantis plans to drive in a series of new cars in India over the coming years to gain market share, with a focus on "affordable premium" models in the Rs 10-25 lakh price bracket.

Key Takeaways:

  • Stellantis will launch new petrol and electric cars in India, but will not invest under the government's revised EV incentive policy.
  • The company sold only 7,500 units last year in the domestic market, but plans to drive in a series of new cars in India over the coming years to gain market share.
  • Stellantis is bullish on the India-EU FTA, which will help introduce global models and technologies faster into the country.
  • The company plans to focus on "affordable premium" models in the Rs 10-25 lakh price bracket.
  • Stellantis currently sells cars such as Citreon C3 mini, electric C3, Basalt coupe, and C5 Aircross in India, apart from Jeep's models such as Compass, Meridien, and Grand Cherokee.
  • The company has acquired a factory in Tamil Nadu from the CK Birla group to manufacture Citroen cars, and has a manufacturing JV with Tata Motors in Maharashtra to produce Jeep models.
  • Stellantis has plans to get in new cars to India, but the focus will continue to be on SUVs, where the customers are.
  • The company has also been exporting cars from India, including Citroen branded vehicles to countries such as Indonesia, ASEAN region, Malaysia, Egypt, and South Africa.

Statistics:

  • Stellantis has invested Rs 11,000 crore in India.
  • The company sold 7,500 units in the domestic market last year.
  • Stellantis plans to drive in a series of new cars in India over the coming years.
  • The company will focus on "affordable premium" models in the Rs 10-25 lakh price bracket.
  • Stellantis sells 4 different models in India: Citroen C3 mini, electric C3, Basalt coupe, and C5 Aircross, and Jeep's Compass, Meridien, and Grand Cherokee.
  • The company exports cars from India to countries such as Indonesia, ASEAN region, Malaysia, Egypt, and South Africa.

Sources:

  • "Stellantis to launch new petrol, electric cars in India, not to invest under revised EV policy", The Times of India, Pankaj Doval, NEW DELHI.