Chinese electric motor manufacturer Leap Motor may enter India soon. EV makers are getting ready to enter the Indian market with a partnership with Stellantis, a big player in the global automotive industry.
Leap Motor plans to enter India in partnership with Stellantis.
Stellantis is a major player in the global automotive industry. Jeep, Fiat, and many other popular brands are owned by Stellantis. The aim is to make a mark by introducing their creative and eco-friendly automobile, including electric models. It wants to contribute to the growth of the Indian EV market and provide consumers with exciting and sustainable mobility options. Stellantis is known for its commitment to quality, performance, and cutting-edge technology. It’s great to see them bringing their expertise to India.
The recent partnership between Stellantis and Leapmotor is giving the EV maker confidence to venture into India, even though there are strict regulations for investments from countries that share a border with India.
Another EV company, BYD, is facing challenges in expanding its brand in India due to government approval issues. It has also faced difficulties obtaining approvals for its investment proposals, even with a local partner.
MG Motor, a subsidiary of China’s SAIC group, had to involve an Indian partner to comply with regulations. This took place when Sajjan Jindal’s JSW got a substantial stake in the company,
With the idea to increase ownership up to 51% in the coming years.
Last October, Stellantis announced that it would invest $1.6 billion in Leapmotor, securing roughly 20% ownership in the Chinese budget electric vehicle (EV) firm. This move makes Stellantis an important shareholder in Leap Motor.
Furthermore, the agreement between the two companies created a new company called Leap Motor. Stellantis has a 51% share and mainly leads the venture. This company will be responsible for selling, manufacturing, and distributing Leap Motor products outside of China.
