Detroit car manufacturer, Chrysler is all set to enter a joint venture with Argentum Motors, owned by a former Hyundai-boss BVR Subbu and Spice Jet’s Ajay Singh, for a contract manufacturing alliance.
Some of the sources said that Chrysler is very interested in contract manufacturing its SUV range (which includes once best sellers like Jeep Cherokee and Grand Cherokee). Chrysler is also thinking of a joint venture with Dodge for the small car option and will be sold in India and North America.
According to Mr Subbu, “Argentum is in talks with several global automotive players. Given the structure of the Indian car market, we are in talks with manufacturers who can give us a range of vehicles falling in 3.5-4.4 metre overall length group and would necessarily be budget cars”.
Sources also reveal that Argentum was testing Chrysler models including the Jeep Grand Cherokee in India. India’s leading car manufacturer, Tata Motors has entered into an agreement with Chrysler to develop an electric version of the Ace truck, which will be sold in North America.
Finally, even Chrysler is set to make its place in Indian market like other car manufacturers. This proves that foreign car manufacturers see a great potential for their products in India.