New Delhi, Nov 28 (KNN) Stellantis, the parent company of Fiat has said that if India meets their quality and cost targets by the end of 2023, it could open the door to exporting electric vehicles (EVs) to other markets.

The automotive manufacturer recently came to a conclusion that it can’t make affordable EVs in Europe and is looking at lower-cost manufacturing in markets such as India.

Carlos Tavares, CEO of the group whose brands also include Peugeot and Chrysler, said “So far, Europe is unable to make affordable EVs. So the big opportunity for India would be to be able to sell EV compact cars at an affordable price, protecting profitability.”

In coming decade Stellantis plans to produce dozens of EVs as it has amped up its investment in the segment.

However, Tavares warned last month that affordable battery EVs were between five and six years away.  (KNN Bureau)