Yet another Chinese automotive player Leapmotor is expected to enter the Indian automotive market with their electric vehicles (EV). Leapmotors in collaboration with Stellantis, a global automotive powerhouse aims to introduce budget-friendly electric cars. Altogether, with the entry of Leapmotors in India the competition is going to intensify in the electric vehicle segment.
Leapmotor Track Record and Expansion Plans:
Leapmotor and Stellantis eyes the global automotive market with their joint venture Leapmotor International. Last year in October Stellantis acquired a 20% stake for €1.5 billion (approximately ₹13,500 crore). Through the JV the plan is to export, sell, and manufacture the products exclusively outside Greater China. In China, Leapmotor has a track record of selling more than 10,000 cars month on month.
Entering the Indian Automotive Market:
Further, with plans to enter the international market, Leapmotor International plans to enter the Indian automotive market. At present, the company is evaluating the Indian automotive landscape for the future of Leapmotor International in India. The company is positive based on the success of its fellow Chinese automotive competitors MG and BYD. Mostly, by 2025 Leapmotors International shall debut in the Indian market by concluding its evaluation.
Diverse Product Portfolio of Leapmotor:
Further, Leapmotor International shall introduce a diverse line-up ranging from sub-₹10 lakh to ₹40 lakh. Leapmotor’s shall compete with the dominant Indian electric vehicle manufacturer Tata Motor with their Tata Tiago EV and Nexon EV by introducing their mini hatchback EVs. Moreover, the long-time Indian automotive giant Maruti Suzuki shall join the competition with their upcoming eVX.
Conclusion
Leapmotor’s International entry into the Indian automotive market by 2025 shall be disruptive for the electric vehicle segment. However, all of this depends on their evaluation of the Indian automotive market. Altogether, entering the Indian market shall not only expand Leapmotor’s global footprint but also promise Indian consumers a broader range of affordable electric vehicle options shortly.
