Stellantis bets big on India as key strategic market for future growth

Stellantis bets big on India as key strategic market for future growth

by Pranali Mehta

Multinational automotive corporation Stellantis N.V. has reportedly invested USD 1.05 billion (one billion euros) in India with a long-term plan of making the country a strategic hub for sourcing components and exporting cars worldwide.

The Amsterdam-based company is betting big on India as a crucial strategic market for future planning and growth to serve global parts supply and for its global operations. Furthermore, Stellantis will reinforce its mark in each segment in India through its two brands Citroen and Jeep.

Speaking on the development, Stellantis India Managing Director and CEO Roland Bouchara mentioned that India will eventually achieve the mark of five million vehicles per year. Adding further, he stated that the increasing middle class and young population of India is sufficient to help attain that number as they are not many countries having five million vehicles.

Stellantis has been targeting the design and development of products catering to Indian requirements, which can also be exported to other emerging economies. In addition, the company has developed a robust base of component suppliers in India so that its products can be cost-competitive and stay localized.

Bouchara also said that the company is developing auto parts in India that will soon be exported as well. This will eventually grow and become more crucial as the company intends to make the country a global processing hub.

For the unversed, Stellantis possesses an iconic portfolio of 14 automotive brands across various segments, including the premium, luxury, and mainstream passenger vehicles to SUVs, pickup trucks, and commercial vehicles. These are further bolstered by 2 dedicated mobility brands along with parts, service, and financial brands.

With industrial operations in over 30 countries, Stellantis is known to constantly exceed the growing expectations and needs of consumers across 130 operational markets.

Source credits:

https://auto.hindustantimes.com/auto/news/stellantis-betting-big-on-india-as-key-strategic-market-components-sourcing-hub-41651391212367.html

Pranali Mehta

A chemical engineer by qualification, Pranali Mehta dutifully walked down the slated path and worked in a chemical firm for a year. Her passion for writing however, pushed her into experimenting with the same as a career. With over three years of experience in content writ Read more...