Stellantis, the parent company of Fiat, has come to the conclusion that it cannot now produce inexpensive electric vehicles in Europe and is investigating lower-cost production in countries like India. According to CEO Carlos Tavares, India’s low-cost supplier base might pave the way for EV exports to other countries. The corporation expects to create dozens of electric vehicles over the next ten years and is making significant investments in EVs.
After announcing that its Jeep joint venture in the nation will file for bankruptcy, Stellantis is the most recent company to rethink its approach in China, where it now wants to be a niche player through its Jeep and Maserati brands.
Early in the next year, Stellantis intends to introduce the first electric version of its Citroen C3 compact automobile in India. The move comes as Chinese EV manufacturers are expanding into Europe in an effort to attract customers with more reasonably priced vehicles. Stellantis has aspirations to manufacture battery cells in addition to currently producing its own electric motors and battery packs.