Carlos Tavares, the chief executive officer of Stellantis, which makes cars such as Maserati, Dodge, Peugeot, Jeep, Citroen and Chrysler, has indicated the automaker wants to buy batteries from India for electric vehicles.
The global automotive company plans to have 75 pure electric cars in its portfolio by 2030, up from 19 currently. "We expect 20 percent to 30 percent EVs in our portfolio by 2030 for India and global markets," said Tavares.
While the company, which has its headquarters in Amsterdam, would globally launch an electric SUV under the Jeep brand next year, the Citroen brand is likely to lead the EV rollout for Stellantis in India.
Tavares confirmed that the company would launch an electric car in India next year and was working with a range of options, including compact cars and multipurpose vehicles.
"EV vehicles are being engineered in India under the smart cars program, and the company had decided 4-5 years ago to have EV versions for all cars. The same applies to Citroen in India," he said.
Tavares said that Stellantis was open to collaborations in India and hinted that the group might want to source batteries not just for cars made in India but for its global supply chain through a local sourcing partner.
He said that the group was investing close to one billion euros in electric vehicles but has not made specific allocations as EVs are a part of the group's smart cars program.
The Stellantis CEO outlined the challenges for EV adoption, which included lack of access to clean energy for charging, affordability and absorbing the 50 percent higher manufacturing cost than internal combustion vehicles.
"Bringing zero-emission vehicles is not a problem, but we must ensure that cars must be charged by clean energy," Tavares said.
The company expects double-digit growth in profits from India. Tavares said India was an important pillar of the company's 2030 plan, and the group has done extensive work on localisation and vertical engineering at its plants in Chennai, Pune and Hosur. He said the firm had achieved a localisation level of 90 percent for cars built in Chennai.
First Published: May 18, 2022 11:35 AM IST
