Stellantis Acquires Full Ownership of Its Indian Joint Venture
Stellantis has acquired the remaining stake in its Indian joint venture, Stellantis Automobiles India Private Limited (SAIPL), from CK Birla Group. The deal consolidates full ownership and control over manufacturing operations at Thiruvallur, Tamil Nadu, which produces models like Citroën C3 and ë-C3 with high localisation levels. While financial terms were not disclosed, the transaction was funded via foreign direct investment. Stellantis views India as a strategic market for growth, aiming to boost exports, expand manufacturing capacity, and enhance operational efficiency under simplified governance. The company plans to increase production at Thiruvallur by over 160%, from 16,000 units in 2026 to more than 43,000 annually by 2028. Stellantis India CEO Shailesh Hazela highlighted the firm's commitment to local investments and export competitiveness. The joint venture was established in 2017 with CK Birla Group, and manufacturing began at Thiruvallur in 2021. The plant currently exports vehicles to eight markets across four continents.
Tickers: $STLA
Topics: automotive foreign_direct_investment joint_venture manufacturing