Leapmotor is getting ready to follow in the footsteps of its predecessors, MG and BYD, and enter the Indian market. In collaboration with Stellantis, which just purchased a portion of its international business, Leapmotor hopes to announce its investment and India entrance strategy shortly.
With brands like Citroen, Jeep, and Fiat, Stellantis, a significant player in the worldwide automotive market, is present in India through Citroen and Jeep. Despite strict laws regulating investments from nations sharing a border with India, Leapmotor’s confidence in venturing into the country has been strengthened by its relationship with Stellantis.
Government approval problems prevented BYD from growing its business in India, and MG Motor was forced to work with Sajjan Jindal’s JSW, an Indian partner, to comply with the rules. A major alliance was made possible by Stellantis’ $1.6 billion investment in Leapmotor last year, which resulted in the acquisition of about a 20 per cent interest.
Leapmotor International, a joint venture largely focused on exporting and marketing Leapmotor products outside of China, was formed as a result of this agreement.
While Stellantis has not commented on Leapmotor’s potential entry into India, sources suggest that the move could see the launch of budget-friendly electric car, intensifying competition in the green car segment.
The announcement of Leapmotor’s India plans in partnership with Stellantis is anticipated in the coming weeks, signalling a significant development in the Indian electric vehicle market.