Stellantis was formed through merger of Peugeot S.A. and Fiat Chrysler Automobiles N.V. Under FaSTLAne 2030 initiative, 7 new products and five major upgrades will be launched. The launches will cover products in the B, C, D SUV segments, a MPV, an A-segment car and a premium pickup. Stellantis currently operates three manufacturing facilities in India at Ranjangaon in Maharashtra and Thiruvallur and Hosur in Tamil Nadu. It also houses engineering and software capabilities in Bengaluru and an ICT presence in Hyderabad.
The company is targeting localisation levels of 90 per cent across, with India to play a larger role as an export base for the group. Stellantis currently exports from India to 50 countries, and approximately 95 per cent of the engines and gearboxes produced at its Hosur facility are exported.
Under FaSTLAne 2030, India-developed vehicles are planned for export too. Stellantis and Tata Motors Passenger Vehicles will develop vehicles for more than 50 global markets and manufacture them in India, broadening an over two-decade long relationship that has so far focused on manufacturing vehicles through Fiat India Automobiles, the companies’ 50:50 joint venture. Clearly this is a big endorsement from global players’ confidence on India and its stable operating environment, amid the global geopolitical uncertainty.