Stellantis plans to produce dozens of electric models in the coming decade, but its CEO Carlos Tavares has said it could be five or six years before affordable battery EVs are created

The A$76 million ($52 million) investment would make Stellantis the company's second-largest investor with an 8% holding

Both companies said operations are expected to start in 2025, with an initial annual production capacity of 23 gigawatt hours, and the ability to increase to up to 40 GWh later

"We have been working for many years now on localisation, vertical integration in India, to enjoy the smart frugality of India," CEO Carlos Tavares said

The company, which made $500 million in Asia-Pacific, has stated a goal of improving its performance in China and the rest of the region

Boosting business in China, the world's biggest car market, is one area analysts want addressed by chief executive Carlos Tavares

(ATF) Stellantis, the automotive powerhouse formed from France’s PSA and the US-Italian Fiat Chrysler, has made the China...

The JV, which started producing Acura cars in China six years ago, only sold 6,554 of them in the world’s biggest auto market in 2021, down 45% from 2020

The possible move by the French carmaker points to the growing perception of the auto market in India, which posted the fastest growth of any major market in 2022

EV and hybrid carmaker BYD, which only began making vehicles in 2003, is on target to top the monthly sales chart in China for the first time

The region’s major markets were weighed down by worries over China’s Covid fight and bad news on Japan inflation despite optimism on US rate hikes

Big Chinese, South Korean and Japanese firms are seen as more likely to follow through than local startups, as they have contracts with global carmakers and experience building large factories