Stellantis India today announced that it 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). With the completion of this transaction,Stellantis now holds full ownership of SAIPL and its manufacturing operations in Thiruvallur, Tamil Nadu.
The acquisition marks a defining milestone in Stellantis’ India journey and reinforces the Company’sconfidence in the country’s long-term growth potential. Funded through Foreign Direct Investment (FDI), the transaction strengthens Stellantis’ ability to drive deeper operational integration, faster decision-making and greater agility in a market that remainscentral to its global growth strategy.
The relationship traces its roots to 2017 when Stellantis and the CK Birla Group came together to establisha long-term manufacturing and mobility partnership in India. Over the years, this collaboration has supported the creation of a strong foundation for the next phase of Stellantis’ India growth story.
Since the start of vehicle assembly operations in 2021, Stellantis’ Thiruvallur facility has becomea key pillar of the Company’s growth strategy in India. The plant manufactures the Citroën C3, ë-C3, C3 Aircross, and Basalt, achieving over 95% localization and reflecting Stellantis’ commitment to strengthening the local automotive ecosystem. More broadly,Stellantis has invested over €1 billion in India to support its long-term growth ambitions, including manufacturing, product development, localization, and capability building. The Thiruvallur facility benefits from a strong supplier and logistics ecosystemwhile contributing to Tamil Nadu’s position as a leading automotive manufacturing hub.
Looking ahead, Stellantis is targeting a production ramp-up of over 160%, growing from 16,000 unitsin 2026 to more than 43,000 units annually by 2028. This growth is expected to create significant employment opportunities, with the direct workforce projected to more than double from 610 employees in 2026, while generating substantial indirect employmentacross the supplier and logistics ecosystem. Thiruvallur is also expanding its global footprint, serving customers across eight export markets spanning four continents, while continuing to strengthen its reputation for quality, operational excellence and sustainablemanufacturing.
Commenting on the milestone, Shailesh Hazela, CEO and Managing Director, Stellantis India, said:
“India remains a key pillar of Stellantis’ growth strategy. Having invested close to INR 11,000 crore in the countryto 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 further added: “As we look ahead, we are committed to driving growth through new product investments, expanded manufacturingcapacity, stronger export competitiveness and deeper localisation. India is playing an increasingly important role within Stellantis’ global network, and we see significant potential to further scale our operations and contribution to the country’s industrialgrowth.”
India is a strategic market for Stellantis, serving as an important hub for manufacturing, engineering and exports. Fullownership of SAIPL provides a simplified governance structure, greater operational flexibility and stronger alignment with the Company’s global priorities.
As one of the world’s fastest-growing automotive markets, India offers significant opportunities for expansion. This milestonepositions Stellantis to accelerate growth, strengthen exports, deepen local investments and create long-term value for customers, employees, partners and communities.
