The firm stated it plans to supply a brand new variant of the Citroen C3 positioned as a metropolis automobile in Europe, in India and Latin America for launch within the second half of 2022.
see picturesIt expects India to change into the world’s third largest automobile market after China and the US by 2030
Carmaker Stelantis plans to launch a brand new mannequin beneath its Citron model in India and Latin America subsequent yr, the group stated on Thursday, because it goals to increase its European turf and department into rising markets the place it’s cheaper. There is threat.
The plan marks Citroen’s return to India, a promote it had left within the Thirties, and comes at a time when another overseas carmakers are leaving the nation after struggling to make a revenue.
Stelantis, which was created from the merger of Fiat Chrysler and Peugeot-maker PSA earlier this yr, has manufacturers like Jeep and Ram within the United States, however continues to be aiming to cut back its reliance on Europe.
The firm stated it plans to supply a brand new variant of the Citroen C3 positioned as a metropolis automobile in Europe, in India and Latin America for launch within the second half of 2022.
Read additionally: Citroen India to launch three new fashions by 2024
The mannequin will likely be produced in India in a three way partnership with CK Birla and in Brazil.
Citroen stated this would be the first of three fashions that it’ll produce in India and Latin America over the following three years.
Stelantis has stated that it expects India to change into the world’s third largest automobile market after China and the United States by 2030, with the overall new vehicles within the nation reaching 4-5 million vehicles yearly.
Nevertheless, the nation has proved difficult for a lot of overseas carmakers, who compete with native producers equivalent to Maruti Suzuki in addition to Hyundai of South Korea. Ford stated final week that it was halting manufacturing in India.
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Stelantis goals to develop gross sales exterior Europe to 30% of its income by the center of this decade, in comparison with 15% now.
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With inputs from NDTV
