Stellantis, the world’s leading car manufacturing group, is reportedly planning to hire engineers from countries like India, Brazil and Morocco instead of the US and Europe to reduce rising development costs.
Various brands such as Jeep, Citroen and earlier Fiat, which sell cars in India, are operating under Stellandis. Various car manufacturers are also selling electric vehicles as an alternative to fuel vehicles in the US and various European countries.
Basically, electric vehicles are slightly more expensive than fuel vehicles. However, Chinese electric car manufacturers are challenging various electric vehicle manufacturers worldwide by producing and exporting electric vehicles at the same price as fuel vehicles.
Electric car manufacturers from Western countries have been forced to launch low-cost electric cars to cope with this competition. Therefore, in order to reduce development costs, they are planning to hire engineers from the aforementioned countries including India, Brazil and Morocco.
Hiring an engineer in US and European countries can cost anywhere from 1,50,000 to 2,00,000 Euros per annum (ie Rs 1.35 crore to Rs 1.80 crore per annum in Indian terms). But it is enough to spend 30% to 40% of this to hire engineers from countries like India. That means spending Rs.50 lakh or less per year in Indian currency.
For this reason, Stellandis Company is looking to recruit engineers from the above mentioned countries. Not only this, but last March alone, the company laid off 400 engineers in the US and hired 500 new employees from Brazil.
All these restrictions are for store employees only. Stellandis’ top employee, the company’s CEO Carlos Tavares, has earned $40 million in salary in 2023 alone (Rs 334 crore in Indian terms). It is noteworthy that this is 56% more than the salary he received in 2022.
