Stellantis India sees India as an export hub for its vehicles, and it will also be ramping up localisation of the Jeep Compass by more than 90 per cent over the next three years. India exclusive Jeep® Compass nine-speed AT Diesel in a 4x2 configuration was launched on Saturday.
The vehicle is priced between ₹20.49 lakh and ₹23.99 lakh. The company presently has 65 to 70 per cent localisation depending on the variant, for the Jeep Compass, while the Jeep Meridian has nearly 80 per cent localisation.
Stellantis has invested about 1 billion euros in India so far.
The company expects to double its sales in India over the next three months to over 1,000 units, from 500 to 600 .
“Last financial year, we announced that Jeep was profitable in India. The near-term strategy is to maximise the four nameplates that we have today in the next 12 to 24 months. With the launch, we aim to double our sales, but there are variants that we need to work on. We are thinking globally and acting locally, and this will increase localisation. We want a wider coverage in the segment that we are present in and will introduce new products to India,” Aditya Jairaj, Head of Jeep India Operations and Deputy Managing Director, Stellantis India, told businessline.
As the company progresses with increased localisation, the prices of its vehicles will be offered at competitive prices over the next two to three years. The dealership network for the company will also be expanded to 80 dealers by the end of December 2023, up from 69 in 2022.
Electric vehicle strategy
The company plans to build its electric vehicles in India and will release its complete electric vehicle strategy soon.
“We are in the advanced stages of discussion on the forms of electrification that include hybrid, plug-in hybrid, or electric vehicles that we will bring to India. We will build the electric products in India, depending on the products,” said Aditya Jairaj.
The company plans to ramp up its exports, and at present, half of what it makes in India is exported to Japan, Australia, New Zealand, and Southeast Asia. This includes the Jeep Compass, Meridian, and Commander.
“We want to make India an export hub. Exports will be expanded as our capacity is extremely flexible. Discussions on electric vehicle exports will be taken,” added Aditya Jairaj.