look news india
Recently, after the plans of Elon Musk's electric vehicle company Tesla to enter India were postponed for the time being, another exercise has been born. Under which there is a strong discussion in the media that after MG and BYD, the third Chinese company is going to make its debut in India. Chinese electric vehicle company Leapmotor is going to enter the Indian market.
Leapmotor and Stellantis may soon announce entry plans in India. Its announcement is likely to be made in the next few weeks. If approved by the Indian government, Leapmotor will launch a budget electric car in India. It is noteworthy that in October last year, Stellantis had announced a plan to invest $ 1.6 billion to acquire 20 percent stake in Leap Motor.
With the entry of the joint venture between Leapmotor and Stellantis in India, the competition among electric vehicles will intensify.
A look at the activities related to the launch of budget e-cars
Leapmotor and Stellantis may announce their plans in India and the announcement may be made in the next few weeks. If the government gives approval, will Leapmotor's budget electric car be launched in India? In October last year, Stellantis had bought 1.6 per cent stake in Leapmotor and announced a $1 billion investment plan to acquire 20 per cent stake. The deal outlines the formation of Leapmotor International, a 51:49 joint venture led by Stellantis with rights to export, sell, manufacture Leapmotor products outside China? A new export-oriented company expected to come to India? Stellantis holds a controlling stake in the company, with the companies hoping to avoid the Indian government's tightening of rules around Chinese-led entities by highlighting the acquisition by a non-Chinese auto maker.