Stellantis to invest ₹4,000 cr, plan 12 India launches, triple market share by 2030

Stellantis, the global automaker behind brands including Citroën and Jeep, will invest an additional ₹4,000 crore in India and launch 12 products over the next three years as it seeks to triple its market share in the country by 2030.

The investment, over and above the ₹11,000 crore already committed to India, will focus on localisation and customer experience. The product rollout will comprise seven all-new models and five major upgrades, the company said on Thursday.

Jeep will introduce its first compact SUV in India, alongside a premium SUV, a large premium SUV and a large premium pickup. Citroën will expand its portfolio with an entry-level car, a hatchback, a large premium SUV and a large multi-purpose vehicle.

The expanded portfolio will give “Indian customers more relevant choices,” said Shailesh Hazela, managing director and chief executive officer of Stellantis India. Citroën’s entry-level model is intended to make the brand “more accessible” and help it reach a significantly larger customer base, the company said.

India will also play a bigger role in the group’s global export strategy. Stellantis currently exports vehicles from India to nearly 50 countries, while about 95% of the engines and gearboxes manufactured at its Hosur facility are shipped overseas.

The company exports right-hand-drive vehicles from its Tiruvallur plant to markets in the Middle East, Africa and Indonesia, and Jeep vehicles from its Ranjangaon plant to Japan. It plans to develop and manufacture left-hand-drive versions of models launched in India, opening up more than 50 additional markets across its global operations.

Under its 2030 roadmap, vehicles developed in India will support Stellantis’ Asia-Pacific strategy, serving both domestic and international markets. The company aims to increase exports as a share of its Indian manufacturing output to 60% by 2030, from about 30% currently, Mr. Hazela said.