Stellantis, the Dutch group that owns automotive brands such as Fiat, Jeep, Chrysler and Peugeot, is exploring the possibility of entering the fast-growing micro-mobility segment, sourcing small electric vehicles like two wheelers and three-wheelers from India and exporting them to global markets, said people aware of the matter.
A team of senior Stellantis executives including India and Asia Pacific chief operating officer Ashwani Muppasani, Middle East and Africa COO Samir Cherfan and India CEO & MD Shailesh Hazela visited multiple electric two-wheeler startups and three-wheeler makers in India two weeks ago.
These companies included Bajaj Auto, Mahindra Last Mile Mobility and startups like Kinetic Green and Kabira Mobility.
The team held exploratory talks with them, which covered all possibilities-from Stellantis buying electric vehicles from Indian manufacturers and exporting them to acquiring a stake in a startup, the people said.
"It is premature to comment on this at this stage," said a spokesperson at Stellantis India.
Stellantis currently sells the Jeep and Citroen brands in India. It is exploring the new opportunity when the micro-mobility segment is poised to post strong growth amid increasing demand for affordable and sustainable transport solutions like electric scooters, three-wheelers and quadricycles globally. India with its large manufacturing base offers a cost-effective option to source these vehicles.
"All things are on the table," said an executive at one of the companies the team visited.
A spokesperson at Bajaj Auto confirmed that a Stellantis team visited the company but declined to provide details. A Mahindra Last Mile Mobility spokesperson said the company is "not in a position to comment on this topic at present", while Kinetic Green founder Sulajja Firodia Motwani declined to comment.
"They are looking at a big play in the so-called micro mobility segment and are also open to buyouts," said the founder of an EV startup, declining to be named.
In a LinkedIn post after his visit to India, Cherfan posted a picture of him riding an electric three-wheeler.
"I recently travelled to India-a nation at the forefront of micro-mobility and technological innovation-to explore advancements that could inform our approach in the MEA (Middle East and Africa) region. The insights gained from India's dynamic mobility landscape are invaluable as we strive to develop solutions that address both environmental concerns and the evolving needs of urban populations," he wrote.
"At Stellantis Middle East & Africa, we are committed to leveraging such global insights to drive sustainable mobility initiatives that positively impact our communities. Excited for what's ahead," he noted.
The team visited various manufacturers to get market intelligence, said an executive at an auto company.
"With large established manufacturers, they (Stellantis) may look at the possibility of exporting EVs in markets leveraging its distribution network. With others (startups) it could be an equity purchase - majority or minority," said another industry executive.
Global automakers like Hyundai Motor, Stellantis and a few others are looking at the possibilities to use India as an export base in the context of an EV future. "They have enormous brand and distribution levers," said an auto industry veteran.
In February, Hyundai announced a partnership with TVS Motor to get into the last-mile mobility market in India.
The company unveiled concept models of an advanced electric three-wheeler and a micro four-wheeler at the Bharat Mobility Global Expo 2025.
It is exploring the potential to offer design, engineering and technology, while TVS will explore manufacturing and marketing of the vehicles under this pact, the companies said.
A team of senior Stellantis executives including India and Asia Pacific chief operating officer Ashwani Muppasani, Middle East and Africa COO Samir Cherfan and India CEO & MD Shailesh Hazela visited multiple electric two-wheeler startups and three-wheeler makers in India two weeks ago.
These companies included Bajaj Auto, Mahindra Last Mile Mobility and startups like Kinetic Green and Kabira Mobility.
The team held exploratory talks with them, which covered all possibilities-from Stellantis buying electric vehicles from Indian manufacturers and exporting them to acquiring a stake in a startup, the people said.
"It is premature to comment on this at this stage," said a spokesperson at Stellantis India.
Stellantis currently sells the Jeep and Citroen brands in India. It is exploring the new opportunity when the micro-mobility segment is poised to post strong growth amid increasing demand for affordable and sustainable transport solutions like electric scooters, three-wheelers and quadricycles globally. India with its large manufacturing base offers a cost-effective option to source these vehicles.
"All things are on the table," said an executive at one of the companies the team visited.
A spokesperson at Bajaj Auto confirmed that a Stellantis team visited the company but declined to provide details. A Mahindra Last Mile Mobility spokesperson said the company is "not in a position to comment on this topic at present", while Kinetic Green founder Sulajja Firodia Motwani declined to comment.
"They are looking at a big play in the so-called micro mobility segment and are also open to buyouts," said the founder of an EV startup, declining to be named.
In a LinkedIn post after his visit to India, Cherfan posted a picture of him riding an electric three-wheeler.
"I recently travelled to India-a nation at the forefront of micro-mobility and technological innovation-to explore advancements that could inform our approach in the MEA (Middle East and Africa) region. The insights gained from India's dynamic mobility landscape are invaluable as we strive to develop solutions that address both environmental concerns and the evolving needs of urban populations," he wrote.
"At Stellantis Middle East & Africa, we are committed to leveraging such global insights to drive sustainable mobility initiatives that positively impact our communities. Excited for what's ahead," he noted.
The team visited various manufacturers to get market intelligence, said an executive at an auto company.
"With large established manufacturers, they (Stellantis) may look at the possibility of exporting EVs in markets leveraging its distribution network. With others (startups) it could be an equity purchase - majority or minority," said another industry executive.
Global automakers like Hyundai Motor, Stellantis and a few others are looking at the possibilities to use India as an export base in the context of an EV future. "They have enormous brand and distribution levers," said an auto industry veteran.
In February, Hyundai announced a partnership with TVS Motor to get into the last-mile mobility market in India.
The company unveiled concept models of an advanced electric three-wheeler and a micro four-wheeler at the Bharat Mobility Global Expo 2025.
It is exploring the potential to offer design, engineering and technology, while TVS will explore manufacturing and marketing of the vehicles under this pact, the companies said.
