Stellantis India has acquired the remaining stake held by Hindustan Motor Finance Corporation Ltd (HMFCL), a CK Birla Group company, in Stellantis Automobiles India Pvt Ltd (SAIPL), giving the automaker full ownership of its India operations and manufacturing facility at Thiruvallur, Tamil Nadu.
The transaction, funded through foreign direct investment (FDI), is expected to give Stellantis greater operational integration, faster decision-making and increased flexibility as it seeks to expand its presence in the Indian automotive market.
Thiruvallur plant at the centre of growth
The relationship between Stellantis and the CK Birla Group dates back to 2017, when the two companies established a manufacturing and mobility partnership in India.
Stellantis began vehicle assembly at its Thiruvallur facility in 2021. The plant currently manufactures the Citroën C3, e-C3, C3 Aircross and Basalt, with more than 95% localisation.
The company said it has invested more than €1 billion in India across manufacturing, product development, localisation and capability building. The Thiruvallur plant is supported by a local supplier and logistics ecosystem and currently exports vehicles to eight markets across four continents.
Production target of 43,000 units
Stellantis plans to increase production at Thiruvallur by more than 160%, from 16,000 units in 2026 to over 43,000 units annually by 2028.
The planned production ramp-up is also expected to increase employment. The company’s direct workforce at the facility is projected to more than double from 610 employees in 2026, with additional indirect employment expected across the supplier and logistics ecosystem.
Stellantis India CEO and Managing Director Shailesh Hazela said India remains a key pillar of the company’s growth strategy.
“Having invested close to ₹11,000 crore in the country to build a strong manufacturing, engineering and export ecosystem, we continue to see significant opportunities ahead. This milestone will enable greater integration and enhance our ability to respond more quickly to customer and market needs,” he said.
Hazela said Stellantis plans to drive growth through new product investments, expanded manufacturing capacity, stronger export competitiveness and deeper localisation.
India gains greater role in global network
Full ownership of SAIPL gives Stellantis a simplified governance structure and greater operational flexibility, while strengthening the alignment of its Indian operations with its global priorities.
The company said India will continue to serve as a manufacturing, engineering and export hub within its global network, with the Thiruvallur facility expected to play a larger role as Stellantis expands production, exports and localisation.
The company said the move would also support its efforts to create long-term value for customers, employees, suppliers and local communities.