Stellantis, the world’s fourth-biggest automaker headquartered in the Netherlands, is preparing to bring Chinese electric vehicle (EV) startup Leapmotor to the Indian market.
Founded in 2015, Leapmotor makes electric cars and currently has four models in its portfolio with prices starting at around $17,800. With a market share of 2.5% in China, Leapmotor delivered 294,000 units in 2024, marking a growth of 104% against 2023.
“We are excited to announce the entry of the Leapmotor brand in India. We already have a presence in India with our Jeep and Citroën brands, and we understand the strategic importance and immense potential that the Indian market holds,” Shailesh Hazela, CEO and managing director, Stellantis India, said.
The company also recently reshuffled its senior leadership roles. “The strategic decision is intended to align leadership structure with long-term goals, promote agility, and cultivate a culture of collaboration and innovation as Stellantis gets ready to launch Leapmotor in India and strengthen the brands of Citroen and Jeep India,” it said.
The European automaker, which partly owns the Chinese company, however, did not provide a timeline for the launch.
Last year too, Stellantis had said that plans were afoot to begin sales of Leapmotor in the final quarter of 2024. However, the company did not provide a reason behind the delay.
Leapmotor had plans to get its products through a fully imported route before starting assembling operations in the future.
India was part of Leapmotor’s second phase of global expansion, preceded by Australia and New Zealand. The first phase entailed capturing markets in Europe and South America and some other Asia-Pacific markets.
Stellantis India makes cars under the Jeep and Citroen brands. It entered the EV segment through the launch of a small SUV under the Citroen brand. It has one manufacturing plant each in Ranjangaon (Maharashtra), Hosur and Tiruvallur (Tamil Nadu) and two research and development centres in Chennai and Pune.
Formed by the merger of PSA Group and Fiat Chrysler Automobiles, Stellantis had a market share of 0.2% of the Indian market as of FY25 end, data from the Society of Indian Automobile Manufacturers (SIAM) show. India’s passenger EV segment recorded a growth of 18% in sales to close at over 100,000 units in FY25.