Chennai, India, September 21, 2026: Stellantis 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), giving the automaker full ownership of its India operations and manufacturing facility in Thiruvallur, Tamil Nadu.

The transaction, funded through Foreign Direct Investment (FDI), marks a significant milestone in Stellantis’ India strategy and is expected to provide the company with greater operational integration, faster decision-making and increased flexibility as it expands its presence in the Indian automotive market.

Stellantis and the CK Birla Group began their manufacturing partnership in India in 2017. Vehicle assembly operations at the Thiruvallur facility commenced in 2021, and the plant has since become an important part of Stellantis’ India manufacturing and export strategy.

Stellantis Thiruvallur plant makes Citroën models

The Thiruvallur facility currently manufactures the Citroën C3, ë-C3, C3 Aircross and Basalt. The plant has achieved more than 95% localisation, supporting Stellantis’ efforts to build a stronger local supplier and manufacturing ecosystem.

Stellantis says it has invested more than €1 billion in India across manufacturing, product development, localisation and capability building. The company has also established an extensive supplier and logistics ecosystem around its Tamil Nadu operations.

The Thiruvallur plant currently exports vehicles to eight markets across four continents, adding an international dimension to Stellantis’ India manufacturing operations.

Stellantis targets 160% production increase by 2028

Following the acquisition, Stellantis is targeting a significant increase in production at its Thiruvallur facility.

The company plans to increase annual production from around 16,000 units in 2026 to more than 43,000 units by 2028. This represents a production ramp-up of more than 160% over the period.

The planned expansion is also expected to create additional employment. Stellantis projects that its direct workforce at the facility will more than double from 610 employees in 2026, while the expansion is expected to generate further employment across the supplier and logistics ecosystem.

The company also plans to use its increased ownership and operational flexibility to support new product investments, expand manufacturing capacity, strengthen exports and deepen localisation in India.

India remains key to Stellantis global strategy

Commenting on the development, Shailesh Hazela, CEO and Managing Director, Stellantis India, said India remains a key pillar of the company’s growth strategy.

Stellantis has invested close to Rs 11,000 crore in India to develop its manufacturing, engineering and export ecosystem. According to Hazela, full ownership of SAIPL will enable greater integration and allow the company to respond more quickly to customer and market requirements.

He added that Stellantis intends to drive future growth through new product investments, expanded manufacturing capacity, stronger export competitiveness and deeper localisation.

With full ownership of SAIPL, Stellantis now has a simplified governance structure for its India operations. The company says the move will provide greater operational flexibility and strengthen the alignment between its Indian business and global priorities.

The acquisition comes as Stellantis looks to expand its manufacturing and export footprint in one of the world’s fastest-growing automotive markets. With the Thiruvallur plant targeting production of more than 43,000 vehicles annually by 2028, India is set to play an increasingly important role in the company’s global manufacturing and export network.