Chinese EV maker Leapmotor partners with Stellantis to make its entry in India
Popular Chinese EV maker, Leapmotor is partnering with Stellantis Group for its India entry. The auto giant’s new collaboration will bring its presence in India following BYD and MG. Stellantis recently acquired a stake in the company’s global operations and is set to make a heavy investment for Chinese EV maker’s entry in India.
New Joint Venture b/w Stellantis & Leapmotor
Leapmotor’s new strategic partnership with Stellantis will forge a strong commitment for the brand’s India alliance with the auto giant. The Chinese EV maker’s collaboration with the Group will leap into a stronger presence in India’s automotive market along with brands such as Jeep and Citroen.
After the BYD’s investment plan got postponed, Leapmotor will also face challenge in India as a foreign entity in the country, especially with the geopolitical tensions between two countries. This partnership will strengthen Leapmotor’s entry in India, resulting in easy surpassing the regulatory barriers in the country.
Stellantis’ Big Investment & India Plans
Leapmotor, along with Stellantis’ $1.6 billion investment, ensures a 20% stake in the company and will make way for a stronger partnership between two brands both globally and India. This new collaboration aims to make the brand’s products achieve global reach and make major countries its global export hub.
Stellantis has not yet confirmed Leapmotor’s India entry via any official media. According to reports, the Chinese EV brand along with Stellantis’ huge partnership is set to make its India entry and will focus on offering budget-friendly EVs in India. This new joint venture will help in India’s growing EV revolution and taking a slice of out and making the customer base with modern tech and aggressive pricing.
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