Stellantis, the parent company of Jeep and Citroen, has acquired the remaining stake held by Hindustan Motor Finance Corporation Ltd., a CK Birla Group company, in Stellantis Automobiles India Private Limited (SAIPL), taking 100% ownership of the joint venture and its car assembly facility in Thiruvallur, Tamil Nadu.
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 automaker in a statement said that funded through Foreign Direct Investment (FDI), the transaction strengthens Stellantis's ability to drive deeper operational integration, faster decision-making and greater agility in a market that remains central to its global growth strategy.
The JV traces its roots to 2017 when Stellantis and the CK Birla Group came together to establish a long-term manufacturing and mobility partnership in India. Since the start of vehicle assembly operations in 2021, Stellantis' Thiruvallur facility has manufactured the Citroën C3, ë-C3, C3 Aircross, and Basalt models while achieving over 95% localisation.
“India remains a key pillar of Stellantis' growth strategy. Having invested close to Rs 11,000 crore in the country to build a strong manufacturing, engineering and export ecosystem, we continue to see significant opportunities ahead," said Shailesh Hazela, CEO and Managing Director, Stellantis India.
"This milestone will enable greater integration and enhance our ability to respond more quickly to customer and market needs,” Hazela said.
The CEO added that the company is committed to driving growth through new product investments, expanded manufacturing capacity, 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 industrial growth,” he said.
Stellantis stated that its production 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 employment across the supplier and logistics ecosystem.
