Global carmakers company Stellantis will enter India and Latin American market next year with its new model car. According to the news of Reuters, the company wants to sell the car even outside the European market. Its intention is to increase its penetration in an emerging market like India. In India, the company will enter India with the Citroen brand. The company used to do business in India in the 1930s, but later left this market. Stellantis is coming to India at a time when many car companies from here have wrapped up their bags. Recently Ford India has announced to stop production in India.
The company will launch the new version of Citroen C3 in India
This year the Stellantis has been made through the merger of Fiat Chrysler and Peugeot-maker PSA. This is followed by brands like Jeep and Ram in the US. But the company wants to reduce its dependence in the European market. The entire focus of the company is now on emerging economy countries like India. The company has said that it wants to launch the new version of Citroen C3 in India and Latin American markets. The Citroen C3 is widely appreciated as a city car in Europe. The company can launch this car in India and other markets in the second half of next year.
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Stellantis to make car in a joint venture with CK Birla Group
The company says that this model will be made in India. In India, it will manufacture cars of this model in a joint venture with the CK Birla Group. It will also be produced in Brazil. The company has said that the Citroen will be one of the three models that will be launched next year targeting the India and Latin American markets. The company has said that by 2030, India can become its third largest market after China and America. However, the Indian car market is proving to be challenging for foreign companies. Companies are facing chip shortage and costly commodities. India is considered to be the market of small and cheap cars. It is becoming difficult for foreign companies to survive here.