Stellantis looks to drive in 'affordable premium' cars

NEW DELHI: Stellantis, one of the world's top carmakers, will launch new petrol and electric cars in India, but does not plan to make investments under govt's revised EV incentive policy for local manufacturing.

The company, which has invested Rs 11,000 crore in India and sells cars under the Citroen and Jeep brands, plans to drive in a series of new cars in the country over the coming years. It sold just 7,500 units last year in the domestic market as it starts to scale fledgling operations after deciding to discontinue the group's Fiat brand.

Shailesh Hazela, MD & CEO of Stellantis in India, told TOI that the group is bullish on the India-EU FTA, which - when concluded - will help it introduce global models and technologies faster into India.

"A trade agreement is always good for both the parties as they can leverage each other's strength... An India-EU FTA will work for both, as we can export more India-made cars and also bring in some of the products from global, test the market, and then focus on localising them if they work. Also, it can become an export opportunity for Indian components as they can be shipped to countries where we will be manufacturing."

It is believed that the electric version of the C5 premium SUV may be looked at for India through the FTA route, if it materialises.

Hazela said there are plans to get in new cars to India, and the effort will be to drive in "affordable premium" models which are focussed in the Rs 10-25 lakh price bracket. "Lot many are on the drawing board as of now... But the focus will continue to be on SUVs, where the customers are." He conceded that volumes in India are currently low, primarily as these are early days for the brand and since it's tough to compete with established players.

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