Stellantis, Tata Motors Passenger Vehicles to develop vehicles in India

Oct 12 (Reuters) - Stellantis and Tata Motors Passenger Vehicles will develop vehicles for more than 50 global markets and manufacture them in India, the firms said on Monday.

The agreement broadens an over two-decade long relationship that has so far centred on manufacturing vehicles through Fiat India Automobiles, the companies' 50:50 joint venture, and follows a February pact to explore cooperation in manufacturing, engineering and supply chains.

The move also marks a step up in Tata Motors PV's partnership with Stellantis, taking it beyond manufacturing into vehicle development and highlights the growing role of India, the world's third-largest car market, as automakers use the country as a base for engineering, product development and exports.

Under the agreement, Stellantis will gain access to the Indian carmaker's vehicle architecture and technologies, which it will use alongside its own engineering and product-development capabilities to develop vehicles for international markets, the companies said.

(Reporting by Kashish Tandon in Bengaluru; Editing by Mrigank Dhaniwala)