KATHMANDU: As Tesla from the US and VinFast from Vietnam expand their EV plans in India, Stellantis is preparing to launch Chinese EV brand Leapmotor next fiscal. The company confirmed the plan in April. Stellantis already sells Jeep and Citroen in India.
Stellantis India CEO and Managing Director Shailesh Hazela told ET Auto that the first Leapmotor product will launch next fiscal. He said the focus will be on the B-segment or possibly entry C, where Leapmotor has a strong presence and innovation. He added that the company is still deciding which model to bring.
Globally, Stellantis manages 14 brands. These include Chrysler, Peugeot, Jeep, Fiat and Maserati. In 2023, it bought a 21% stake in Leapmotor for 1.6 billion dollars. It then set up Leapmotor International, a joint venture where Stellantis owns 51%.
Leapmotor sold just over 300,000 cars last year. That was less than a tenth of BYD’s sales. The brand turned profitable in the fourth quarter, one year ahead of plan.
Stellantis plans to use Leapmotor in India to reach premium EV buyers who want technology and status, different from the buyers of its current brands.
Stellantis was created in 2021 after the merger of Fiat Chrysler Automobiles and France’s PSA Group.
