Fiat plans to build luxury SUV under the brand name of JEEP in India and export to UK, Australia, South Africa and other countries. For the same Fiat expects to invest INR 1500 – 2000 crore in the next two years. This C segment vehicle is code named as M6 or 556 and the company expects to lower its losses in India by making it an export hub in future. Companies such as Renault-Nissan and volkswagen have already started exporting India made models to other countries. The C segment SUV under JEEP brand is expected to hit the price bracket of INR 20-25 lac.
Fiat Chrysler are also rumored to be working on a new modular platform that would underpin the future Linea and Punto. The merger of Chrysler and Fiat in the international market has been a major roadblock for Fiat, that stopped the Italian firm from investing in the country.
“The future is in India whether it is for domestic market or for export manufacturing. Renault-Nissan, Ford, Hyundai and Maruti all have accepted this fact that manufacturing in India gives strong top and bottom numbers. Exporting a luxury brand from India will definitely be a strong image booster for Indian manufacturing in mature markets, where India always remains popular with small hatchbacks,” added Gaurav Vangaal, senior analyst for forecasting at consultancy firm IHS Automotive.
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Source – Economic Times