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, reinforcing the company’s confidence 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 central to its global growth strategy.
The relationship traces back to 2017, when Stellantis and the CK Birla Group came together to establish a long-term manufacturing and mobility partnership in India. Since vehicle assembly began in 2021, the Thiruvallur facility has become a key pillar of Stellantis’ India strategy, manufacturing the Citroën C3, ë-C3, C3 Aircross, and Basalt, with over 95% localisation. Stellantis has invested over €1 billion in India across manufacturing, product development, localisation, and capability building.
Looking ahead, Stellantis is targeting a production ramp-up of over 160%, growing from 16,000 units in 2026 to more than 43,000 units annually by 2028. The direct workforce is projected to more than double from 610 employees in 2026, alongside substantial indirect employment across the supplier and logistics ecosystem. The Thiruvallur plant currently serves customers across eight export markets spanning four continents.
Mr. Shailesh Hazela, CEO and Managing Director, Stellantis India, said India remains a key pillar of Stellantis’ growth strategy, having invested close to ₹11,000 crore in the country to build a strong manufacturing, engineering, and export ecosystem, adding that the milestone will enable greater integration and a faster response to customer and market needs. He added that the company remains committed to driving growth through new product investments, expanded manufacturing capacity, stronger export competitiveness, and deeper localisation, with India playing an increasingly important role in Stellantis’ global network.
Stellantis said full ownership of SAIPL provides a simplified governance structure, greater operational flexibility, and stronger alignment with the company’s global priorities, positioning it to accelerate growth, strengthen exports, deepen local investments, and create long-term value for customers, employees, partners, and communities in one of the world’s fastest-growing automotive markets.
