Stellantis takes full control of India plant after ₹11,000 crore investment, targets 160%+ production ramp-up by 2028

Stellantis has assumed full ownership of its Indian manufacturing joint venture in Thiruvallur, Tamil Nadu, after acquiring the remaining stake held by Hindustan Motor Finance Corporation Ltd.

(HMFCL), a CK Birla Group company. The transaction, funded through foreign direct investment (FDI), gives Stellantis complete ownership of Stellantis Automobiles India Private Limited (SAIPL) and its manufacturing operations in the state.

The automaker said the move will simplify its governance structure and provide greater operational flexibility, faster decision-making and deeper integration of its Indian operations with its global priorities. Stellantis and the CK Birla Group had established their manufacturing and mobility partnership in India in 2017.

Thiruvallur production target crosses 43,000 units by 2028

The Thiruvallur plant, which began vehicle assembly operations in 2021, currently manufactures the Citroën C3, ë-C3, C3 Aircross and Basalt. The facility has achieved more than 95% localisation, while Stellantis said its cumulative investment in India has exceeded €1 billion across manufacturing, product development, localisation and capability building.

The company is targeting a production ramp-up of more than 160%, from 16,000 units in 2026 to over 43,000 units annually by 2028. The expansion is also expected to more than double the plant's direct workforce from 610 employees in 2026, apart from creating indirect employment across the supplier and logistics ecosystem.

Exports, localisation in focus

Thiruvallur currently serves eight export markets across four continents. Stellantis said full ownership will support increased exports, additional manufacturing capacity, new product investments and deeper localisation.

“India remains a key pillar of Stellantis’ growth strategy. Having invested close to INR 11,000 crore in the country to build a strong manufacturing, engineering and export ecosystem, we continue to see significant opportunities ahead,” said Shailesh Hazela, CEO and Managing Director, Stellantis India.

Hazela added that the ownership transition will enable greater integration and quicker responses to customer and market needs. He said Stellantis is committed to driving growth through new product investments, expanded manufacturing capacity, stronger export competitiveness and deeper localisation.

The company said India is becoming increasingly important within its global manufacturing, engineering and export network, with the latest transaction intended to accelerate its operations and long-term investments in the country.