Stellantis to ramp up India investment, targets strategic market status

Stellantis, the automaker behind brands such as Chrysler, plans to significantly boost its investment in India, aiming to turn the country into a key strategic market, the Economic Times reported.

With just a 1 percent market share in India, the company intends to open more showrooms, launch additional models, and double its export volume from the country, the report said.

It also plans to introduce an electric vehicle co-developed with Chinese partner Zhejiang Leapmotor Technology (9863) by the end of this year.

Stellantis has invested 110 billion rupees (approximately HK$10 billion) in India to date.

Earlier, a joint venture between Stellantis and China's Guangzhou Automobile Group, GAC Fiat Chrysler Automobiles, said it had been declared bankrupt.

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