In a glimpse of what the future may hold for the automotive industry, auto giant Stellantis has revealed global plans for its joint venture (JV) with Chinese electric vehicle (EV) firm Leapmotor. Through a presentation, Stellantis confirmed that as part of its JV with Leapmotor, it will begin manufacturing and selling Leapmotor EVs in key global markets, including India, towards the end of 2024. Leapmotor International, a Stellantis-led joint venture, which has exclusive rights for the export and sale, as well as manufacturing, of Leapmotor vehicles outside China, is expected to initially launch two models in India – the T03 hatchback and the C10 electric SUV.
Even as uncertainty clouds the future of Chinese-made vehicles in the Indian market, at this point, Stellantis has refrained from confirming if it will assemble Leapmotor’s EVs at one of its existing manufacturing facilities in India, or import them. However, speaking to media after the announcement, Stellantis CEO Carlos Tavares said that bearing in mind the “severe” duty imported vehicles are subjected to, the company may choose to utilise its existing local production footprint, if it is feasible from a cost point of view.
The Leapmotor T03 is an all-electric hatchback that measures a little over 3.6 metres in length.
“It is quite clear that each time we are facing severe customs duties or tariffs it is a good opportunity for us to use Stellantis manufacturing within the bubble. We can consider using our manufacturing footprint If it makes economic sense”, Tavares told reporters.
In response to a question from carandbike, Tavares said it was too early to comment on specific plans for the Indian market, but did mention the company will evaluate retailing Leapmotor EVs through a multi-brand setup run by existing dealers.
The JV will result in the introduction of one new model every year for the next three years.
“We have to think [of India] as we do for any other market. Do we bring new dealers into the fold and offer them the chance to run a multi-brand dealership or create new dealerships, that is still to be decided at this point”, Tavares said.
As part of the plan for the JV, Stellantis will look to introduce both battery electric vehicles (BEVs) and range-extender models, and also intends to launch one new model every year for the next three years. These will include a new B-segment hatchback, a B-segment SUV, a C-segment hatchback and a C-segment SUV.
The Leapmotor C10 SUV is offered with both all-electric as well as range-extender powertrains in China.
In Europe, Stellantis will set up 200 sales points by September 2024, across Belgium, France, Italy, Germany, Greece, Netherlands, Romania, Spain, Portugal, and will also take Leapmotor EVs to South America, Middle East, Africa and the Asia-Pacific markets (Australia and New Zealand).
On the subject of whether Stellantis intends to rebrand Leapmotor EVs for global markets, Tavares remarked that the “mission” of the JV is to sell Leapmotor models in key global markets.
The Leapmotor T03 is an all-electric hatchback, which measures a little over 3.6 metres in length and has a range of up to 265 kilometres (WLTP). This is likely to be positioned as an affordable alternative to the Tata Tiago EV.
The C10, on the other hand, is a five-seat SUV that is closer in size to an MG Hector, and is offered in China with both all-electric as well as range-extender powertrains.
Stellantis acquired a 20 per cent equity stake in Leapmotor in October 2023, committing €1.5 billion (approx. Rs 13,500 crore). With this, Stellantis secured two seats on Leapmotor’s Board of Directors, and holds the power to appoint the CEO for the Leapmotor International joint venture.
