Stellantis to Introduce Leapmotor Brand of EVs in India, Expanding Its Global Footprint
In a very significant step that shows the seriousness Stellantis’ global automaking giant has towards the Indian market, it is that this company is about to introduce the Leapmotor brand of electric vehicles (EVs) in India. This development is one of the building blocks in Stellantis’ quest to expand its group and have a particular country that has a bias toward sustainable mobility.
Stellantis operates globally with nearly twenty automotive Original Equipment Manufacturers (OEMs) under its umbrella. In India, the Dutch conglomerate currently has a strong presence through its Jeep and Citroen brands and also imports high-end vehicles from Maserati. However, the company is now looking to broaden its reach with the introduction of a new auto brand aimed at the burgeoning EV market.
The latest development involves Stellantis forming a strategic partnership with Hong Kong-based Leapmotor. This new joint venture, officially named Leapmotor International B.V., is structured as a 51/49 partnership led by Stellantis. The joint venture will be headquartered in Amsterdam, Netherlands, and will be spearheaded by CEO Tianshu Xin, a former Stellantis China executive. This move signifies Stellantis’ strategic pivot towards electrification and sustainable mobility solutions.
Carlos Tavares, Stellantis’ global CEO, emphasized the importance of this partnership in their global expansion strategy. “We are now going to go live. We are now in the planning phase to go to the markets and start exporting vehicles out of China to the rest of the world,” Tavares stated. He highlighted that while planning constitutes 10 per cent of the process, execution is the critical 90 per cent. Thus, the company is now entering the execution phase of this significant partnership.
The rollout of Leapmotor products is scheduled to commence in late 2024, initially targeting the European market. Europe will serve as the launchpad, with Leapmotor set to enter nine countries by September 2024, including Belgium, France, Italy, Germany, Greece, the Netherlands, Romania, Spain, and Portugal. Following this, the Leapmotor brand will extend its reach to other regions, including the Middle East and Africa (Turkey, Israel, and French Overseas territories), India and the Asia Pacific (Australia, New Zealand, Thailand, Malaysia, and India), and South America (Brazil and Chile).
This joint venture aims to bring affordable electric vehicles to developing markets, with India being a key focus. The launch in India is slated for the fourth quarter of 2024. This move is aligned with Stellantis’ vision to cater to the growing demand for sustainable and affordable mobility solutions in emerging economies.
Leapmotor’s entry into these markets will be marked by the introduction of two key models: the T03 and the C10.
The Leapmotor T03 is an entry-level hatchback designed to compete with models such as the Tata Tiago, MG Comet EV, and Citroen eC3. This compact EV is tailored for urban commuting, offering a peak single-charge range of 265 km (WLTP). It is expected to appeal to budget-conscious consumers looking for a cost-effective and environmentally friendly vehicle.
On the other hand, the Leapmotor C10 represents the brand’s first global offering based on Leapmotor’s self-developed LEAP3.0 technology architecture. This platform incorporates cutting-edge intelligent electric technology, including a central integrated electronic and electrical architecture, cell-to-chassis (CTC) technology, and an advanced intelligent cockpit.
The C10 is a fully equipped, family-centric D-segment vehicle designed to provide a premium ride and handling experience. It boasts a 420 km range (WLTP) and has achieved a 5-star Euro NCAP safety rating, making it one of the safest vehicles in its segment. More details regarding the C10 and the T03 are expected to be revealed in the coming months.
The introduction of Leapmotor vehicles in India and other developing markets is poised to significantly impact the EV landscape. Stellantis’ strategic move to partner with Leapmotor underscores its commitment to expanding its footprint in the global EV market, leveraging Leapmotor’s technological advancements and Stellantis’ extensive market reach.
This development is expected to enhance competition in the EV sector, offering consumers more choices and driving the adoption of electric mobility. As Stellantis continues to innovate and expand, the collaboration with Leapmotor is set to play a crucial role in shaping the future of sustainable transportation in India and beyond.
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