Stellantis Takes Full Ownership Of Thiruvallur Plant - Targets 43,000-Unit Output By 2028

Stellantis, the multi-national carmaking conglomerate that owns Citroen,Fiat, Jeep and Chrysler has acquired full ownership of its Thiruvallur manufacturing plant in Tamil Nadu, taking over the remaining stake previously held by Hindustan Motor Finance Corporation Limited (HMFCL. The deal makes Stellantis Automobiles India Private Limited (SAIPL) a wholly owned subsidiary of the world's 5th largest car manufacturer .

The transaction was funded entirely through Foreign Direct Investment. Stellantis calls it a defining milestone in its India journey, and plans to raise annual production at the Thiruvallur plant from around 16,000 units in 2026 to more than 43,000 units by 2028, a jump of over 160 per cent.

Stellantis Plant, Thiruvallur, Tamil Nadu

Full ownership gives Stellantis a simplified governance structure at SAIPL, along with greater operational flexibility and closer alignment with the company's global priorities. The automaker said the move strengthens its ability to drive deeper operational integration, faster decision-making and greater agility in the Indian market.

The plant's direct workforce currently stands at 610 employees and is expected to more than double as production volumes rise. Stellantis said the ramp-up will also generate substantial indirect employment across the supplier and logistics ecosystem tied to the facility.

Vehicles built at the Stellantis Thiruvallur facility are exported to eight markets across four continents, and localisation at the plant has crossed 95 per cent. The facility currently manufactures four models, the Citroen C3, e-C3, C3 Aircross and Basalt, and Stellantis says it has built a reputation there for quality and sustainable manufacturing.

Vehicle assembly at Thiruvallur began in 2021, four years after Stellantis and the CK Birla Group formed their manufacturing and mobility partnership in 2017. That collaboration laid the foundation for the plant's next phase of growth, and the latest transaction closes out HMFCL's remaining stake in SAIPL.

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 country to 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 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."

Citroen currently holds about 0.2 per cent share of India's 4.7 million-unit passenger vehicle market. Stellantis has not announced any new models for the Thiruvallur plant alongside the ownership change.