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 manufacturing operations in Thiruvallur, Tamil Nadu. The transaction was announced on September 21, 2026.
The deal was funded through foreign direct investment and ends the ownership structure that began with the partnership between Stellantis and the CK Birla Group in 2017. Stellantis said the move will simplify governance and provide greater flexibility in managing its Indian operations.
Vehicle assembly at the Thiruvallur facility began in 2021. The plant currently produces the Citroën C3, ë-C3, C3 Aircross and Basalt, with localisation exceeding 95%. The facility also supports exports to eight markets across four continents.
Stellantis said it has invested more than €1 billion in India across manufacturing, product development, localisation and capability building. The company’s India CEO and Managing Director, Shailesh Hazela, said the group has invested close to ₹11,000 crore in the country and that full ownership would allow greater integration and faster responses to market and customer requirements.
The company has also outlined a significant increase in production at Thiruvallur. Annual output is targeted to rise from 16,000 vehicles in 2026 to more than 43,000 units by 2028, representing an increase of over 160%. The direct workforce is expected to more than double from 610 employees in 2026, alongside additional employment across the supplier and logistics network.
The Thiruvallur facility forms part of Stellantis’ wider manufacturing, engineering and export operations in India. The company said the ownership change will support expanded manufacturing capacity, product investment, exports and localisation.
The transaction comes as Stellantis continues to position India within its global operations, with the Thiruvallur plant serving both the domestic market and overseas customers.
Source:Stellantis Assumes Full Ownership of Its Indian Manufacturing Joint Venture in Thiruvallur | Corporate | Stellantis Media
