The Chinese automaker has announced its plans to enter the Indian market with Stellantis and will be bringing two new electric vehicles – T03 and C10
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Auto giant Stellantis announced its global plans for its latest joint venture with Leapmotor of China, promising to bring a host of electric vehicles from the brand to global markets. While Stellantis and Leapmotor plan to expand their presence in several European countries this year, the Chinese automaker has also announced its plans to enter the Indian market and will be bringing two new electric vehicles by the end of 2024.
Leapmotor International is headquartered in Amsterdam and will be bringing two new offerings – T03 hatchback and C10 electric SUV to the Indian market later this year. Apart from India and Europe, Leapmotor will also expand to various markets MENA, Africa, and Australasia, the company announced. Stellantis acquired a 21 per cent equity in Leapmotor in October last year for 1.5 billion Euros. Leapmotor is regarded as one of the top three EV startups in China.
Also Read : Stellantis-Leapmotor to launch budget EVs in 9 European countries by September.
Speaking about the joint venture, Carlos Tavares, CEO – Stellantis, said, “The creation of Leapmotor International is a great step forward in helping address the urgent global warming issue with state-of-the-art BEV models that will compete with existing Chinese brands in key markets around the world. Leveraging our existing global presence, we will soon be able to offer our customers price-competitive and tech-centric electric vehicles that will exceed their expectations. Under Tianshu Xin’s leadership, they have built a compelling worldwide commercial and industrial strategy to quickly ramp up the sales distribution channels to support Leapmotor’s robust growth and create value for both partners.”
The T03 hatchback is about the same size as the Tata Tiago EV and promises a range of 265 km (WLTP). It will also take on the MG Comet EV and Stellantis’ own Citroen e-C3 hatchback. Meanwhile, the C10 electric SUV is a five-seater offering and will be taking on the MG ZS EV, BYD Atto 3 and the like in the segment. Leapmotor claims a range of 420 km (WLTP) on a single charge on C10 with a five-star score in the e-NCAP crash test results.
Neither Stellantis nor Leapmotor has confirmed if the T03 and C10 EVs will be locally built or assembled in India. However, it is understood that the automaker will be looking at the latter in order to keep prices competitive. It needs to be seen how Stellantis India establishes the brand when it comes to sales and distribution. The T03 and C10 will only be the start of the brand’s global aspirations with more products planned for launch until 2027. More details will unfold in the coming months.
First Published Date: 14 May 2024, 20:42 PM IST