Thursday, February 2, 2023
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This company will come to India to make electric vehicles, affected by the cheap construction cost

 

Global automobile conglomerate Stellantis is looking to India for affordable electric cars. The group’s CEO, Carlos Tavares, told Reuters the group is looking for a market to produce cheap electric cars. He told that the production of vehicles in Europe has become expensive due to which companies are now turning to other countries.

Tavares said markets like India are best suited for low manufacturing costs. He pointed out that if India is able to meet the company’s quality and cost targets, it could open the door for exporting electric vehicles (EVs) to other markets. Explain that companies like Peugeot and Chrysler are also included in the Stellantis group.

He pointed out that Europe is unable to make affordable EVs. Therefore, India can become a major market for making compact electric cars at an affordable cost while protecting its profits. Stellantis is investing heavily in electric vehicles and plans to produce dozens over the coming decade, but Tavares said it could take another 5-6 years to bring affordable electric vehicles to market.

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Let us tell you that Chinese companies are strengthening their hold by launching cheap electric cars in the European market. In such a situation, it is clear from Tavares’ plan that global companies are looking towards India for cheap production. If Stellantis Group comes to India for EV production, then internationally India will join the list of most favorable countries for EV production.

 

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Apart from this, the company will also get an opportunity to sell its vehicles in the big market of India. Let us tell you that big automobile companies like Ford Motors and General Motors have left India due to low profits. Both companies did not stand in front of affordable car makers like Maruti Suzuki and Hyundai. In such a situation, Stellantis will need to prepare its vehicles according to the needs of the people in India.

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