Daily Management Review

Stellantis to produce affordable electric cars for European market in India


CEO of Stellantis, the parent company of Fiat, told reporters that the business has come to the conclusion that it cannot now create affordable electric cars in Europe and is considering lower-cost production in countries like India.

Ottaviani Serge
Ottaviani Serge
Carlos Tavares, chief executive of the company that owns brands like Peugeot and Chrysler, said that if India, with its broad range of low-cost suppliers, is able to meet the company's quality and cost requirements by the end of 2023, it could be the first step toward exporting electric cars to other markets.

Tavares issued a warning in October that it would be another five to six years before there were reasonably priced battery electric cars on the market, despite Stellantis' aggressive investment in electric vehicles and promises to build dozens of them over the next ten years.

Stellantis is changing its strategy in China, following other manufacturers. With its Jeep and Maserati brands, it now intends to remain a niche player. It had already announced that the Chinese Jeep joint venture would declare bankruptcy.

source: reuters.com