Jeep India, a subsidiary of Stellantis, is focusing on electric vehicles (EVs) in the Indian market and is currently evaluating different options for electrification before finalizing its plans. Aditya Jairaj, Head of Jeep India Operations and Deputy Managing Director at Stellantis India, highlighted the importance of meeting customer needs and stated that the company is studying various avenues for EV expansion in India. Currently, Jeep India has a 50:50 joint venture manufacturing facility with Tata Motors, where it aims to achieve over 90% localization for its compact SUV Jeep Compass within the next three years.
Jairaj emphasized that electrification is a key focal point for Jeep in India, stating that it will eventually happen, although the company is still in the process of finalizing its EV strategy. In terms of localization, Jeep India aims to reach 40% higher localization for its next generation products, ensuring that its vehicles are tailored for the Indian market as well as the global market.
Additionally, Jairaj highlighted the significance of exports in the company’s long-term strategy. Exporting vehicles not only provides scale but also a competitive advantage in terms of cost. Currently, Jeep India exports the Jeep Compass and Jeep Meridian to developed markets such as Japan, Australia, and New Zealand. Jairaj stated that exports need to work in conjunction with the domestic market to provide more value propositions.
In conclusion, Jeep India is actively exploring options for EVs in the Indian market, keeping customer needs in mind. The company is focusing on increasing localization and expanding its export opportunities to enhance its presence both domestically and internationally.
Definitions:
– Electric vehicles (EVs): Vehicles that are powered by electricity instead of traditional fuel sources such as gasoline or diesel.
– Localization: The process of adapting and tailoring a product or service to meet the specific requirements of a local market.
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