Stellantis has taken full ownership of its Indian manufacturing operations in Thiruvallur, Tamil Nadu, marking a significant change in the company’s long-term strategy for the Indian market. The automaker has acquired the remaining stake held by Hindustan Motor Finance Corporation Ltd. (HMFCL), a CK Birla Group company, in Stellantis Automobiles India Private Limited (SAIPL). The transaction gives Stellantis 100% ownership of the company and its Thiruvallur manufacturing facility.
End of the 2017 Joint Venture
The partnership between Stellantis and the CK Birla Group began in 2017 and played an important role in establishing the company’s manufacturing and mobility operations in India. With the latest transaction, the joint venture structure has effectively come to an end, giving Stellantis direct control over its manufacturing operations in Tamil Nadu.
The acquisition has been completed through Foreign Direct Investment (FDI). According to Stellantis, full ownership will allow the company to simplify governance, improve operational integration, and make decisions more quickly as it expands its presence in India.
Thiruvallur Plant Plays a Bigger Role
The Thiruvallur facility has been operational for vehicle assembly since 2021 and currently manufactures several Citroën models, including the C3, ë-C3, C3 Aircross and Basalt. Stellantis says the plant has achieved more than 95% localisation, highlighting the growing contribution of Indian suppliers to its manufacturing operations.
The facility is also an export hub for Stellantis. Vehicles produced at Thiruvallur are shipped to eight export markets across four continents, giving the plant a role beyond the domestic Indian market.
Production Expansion Planned
Stellantis is also preparing for a major increase in production. The company has outlined plans to raise annual output at Thiruvallur from around 16,000 units in 2026 to more than 43,000 units by 2028, representing a production increase of over 160%. Its direct workforce is also expected to more than double from the current 610 employees, with additional employment likely to be generated across suppliers and logistics partners.
Stellantis has invested close to ₹11,000 crore in India across manufacturing, engineering, localisation and export capabilities. The company sees India as an increasingly important part of its global manufacturing and export network.
What It Means for Stellantis in India
Full ownership gives Stellantis greater control over its manufacturing strategy at a time when the company is looking to increase production and strengthen exports. The move also comes as Citroën continues to expand its Indian portfolio, while Jeep remains an important part of Stellantis’ wider India strategy.
The Thiruvallur investment therefore represents more than a change in ownership structure. It signals Stellantis’ intention to use India more extensively for manufacturing, localisation and exports while building the capacity needed for its next phase of growth.
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