Stellantis has acquired CK Birla Group’s remaining stake in their Indian joint venture, giving the company complete ownership of manufacturing operations at Thiruvallur, Tamil Nadu.
The stake, previously held by Hindustan Motor Finance Corporation Limited (HMFCL), has been transferred to Stellantis as part of the deal to consolidate ownership of Stellantis Automobiles India Private Limited (SAIPL).
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Financial terms were not disclosed, but the transaction was funded through foreign direct investment.
Stellantis said India is a “strategic market” and the ownership of SAIPL “provides a simplified governance structure, greater operational flexibility and stronger alignment with the company’s global priorities”.
With the acquisition, Stellantis hopes to “accelerate growth, strengthen exports, deepen local investments”.
The joint venture between Stellantis and CK Birla Group was established in 2017 to build a manufacturing and mobility partnership in India.
Manufacturing at the Thiruvallur plant began in 2021, and the facility currently produces the Citroën C3, ë-C3, C3 Aircross and Basalt models, with localisation levels above 95%.
Stellantis India CEO and managing director Shailesh Hazela said: “India remains a key pillar of Stellantis’ growth strategy. Having invested close to Rs110bn ($1.14bn) in the country to build a strong manufacturing, engineering and export ecosystem, we continue to see significant opportunities ahead.
“As we look ahead, we are committed to driving growth through new product investments, expanded manufacturing capacity, stronger export competitiveness and deeper localisation.”
The company plans to increase output at the Thiruvallur site by over 160%, rising from 16,000 units in 2026 to more than 43,000 units annually by 2028.
The plant’s direct workforce, currently numbering 610, is expected to more than double over the same period. The facility currently exports vehicles to eight markets across four continents.
Speaking to the Times of India, Hazela said exports are projected to make up around 60% of the increased output, with the remaining 40% sold domestically.
