Chinese startup Leapmotor’s India EV debut unlikely in 2024 – Express Mobility News

Chinese startup Leapmotor, which had plans of bringing mini electric cars to India later this year, may be going slow on its plans for the time being.

In partnership with one of Europe’s largest carmakers Stellantis, Leapmotor had announced plans in May of introducing electric cars in the fourth quarter of 2024 in India. The launches were to happen through fully imported units before starting assembling operations in the future.

In its latest guidance on market expansion, Leapmotor senior management did not mention India as one of the target markets for 2024 even as the launch in Europe has progressed as planned in September.

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India was part of Leapmotor’s second phase of its global expansion, preceded by Australia and New Zealand while the first phase entailed capturing markets in Europe and South America and some other Asia-Pacific markets.

Leapmotor planned to bring suitable products based on its C10 and T03 for the Indian market. The T03, priced at €18,900 (Rs 17.57 lakh), has a drive range of 265 km while the C10 costs €36,400 (Rs 33.84 lakh) with a drive range of 420 km.

While Leapmotor did not comment on India launch plans when contacted, a Stellantis India spokesperson said that plans for the second stage of global expansion are yet to be finalised.

“Leapmotor International is fully focused on the first stage of its global rollout happening in Europe, South America and some markets in Asia Pacific between now and the first half of 2025. The second stage of the global expansion is under development/approval, and relevant updates about it will be unveiled at the appropriate time,” said the Stellantis India spokesperson.

Stellantis India makes cars under the Jeep and Citroen brands. It entered the EV segment through the launch of a small SUV under the Citroen brand. It has one manufacturing plant each in Ranjangaon, Hosur and Thiruvallur and two research and development centres in Chennai and Pune.

Leapmotor’s go-slow approach in India is the latest example involving Chinese-owned companies where investments by several of them have been either stalled or scrapped following increased scrutiny by the Indian government.

Tesla rival BYD is expected to set up an electric vehicle plant in Pakistan after scheduled investments were blocked by India, the Financial Times reported in September. BYD, which is the world’s largest manufacturer of EVs with its headquarters in China, sells EVs in India in limited numbers.

Chinese company SAIC-backed MG Motor India struggled to invest in its India operations, impacting defined plans. Later, steel to cement major JSW decided to invest directly in it, paving the way for expansion.

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