Stellantis India Buys Out CK Birla Group Stake to Gain Full Ownership of Tiruvallur Plant

Key facts

• Stellantis India has acquired full ownership of its Tiruvallur plant by buying the stake of Hindustan Motor Finance Corporation Ltd (HMFCL), a CK Birla Group company, in the joint venture Stellantis Automobiles India Pvt Ltd (SAIPL).
• The transaction amount and percentage of stake bought were kept confidential by both partners.
• Stellantis and the CK Birla Group began their manufacturing and mobility partnership in 2017, with Stellantis as majority shareholder.
• The Tiruvallur facility started vehicle assembly in 2021 and currently manufactures the Citroën C3, ë-C3, C3 Aircross and Basalt, with over 95 per cent localisation.
• Stellantis has invested over €1 billion in India for manufacturing, product development, localisation and capability building.
• Stellantis targets raising production at Tiruvallur from 18,000 units in 2026 to over 50,000 units annually by 2027, shifting the mix from 70 per cent domestic/30 per cent exports to roughly 40 per cent domestic/60 per cent exports.
• The plant currently exports to South Africa, Egypt, Indonesia, Nepal, Bhutan and Sri Lanka, and has capacity of around 60,000 vehicles.
• The direct workforce of around 600 is projected to more than double to over 1,000 as production increases.
• Stellantis also runs an engine and transmission facility at Hosur with annual capacity of around 250,000 engines and 350,000 transmissions, supplying Tiruvallur and exporting to Europe, the Middle East and Africa.