China’s Leapmotor is Set to Enter India’s Green Cars Space

After BYD Auto and MG Motor, China’s Leapmotor is set to enter the Indian EV market.  The company will be announcing investments and India entry plans in partnership with the Stellantis group, which recently bought a stake in its global operations.

Stellantis, one of the world's top automakers, currently runs a slew of brands across continents and these include Citroen, Jeep, Chrysler, Peugeot, Fiat, and Maserati. Stellantis is present in India through Jeep and Citroen and is now planning to go on overdrive when it comes to expanding operations, introducing brands, widening retail, or making new investments.

The global partnership between Stellantis and Leapmotor is also a recent one, and it is this deal that gives confidence to the Chinese company to make a bid for the Indian market, despite strict checks on investments from companies that emanate from countries, which share land border with India.

Stellantis had announced plans to invest USD 1.6 billion in Leapmotor to acquire approximately 20% in October 2023, emerging as a significant shareholder in the Chinese budget EV company. The deal between the two companies also outlined the formation of a new entity called Leapmotor International, a 51:49 Stellantis-led joint venture that holds exclusive rights for the export and sale, as well as manufacturing, of Leapmotor products outside Greater China. The India entry plans are expected to be led by the new export-oriented entity.