Stellantis Buys Out CK Birla Stake In Citroen India Plant – Targets 43k Production By 2028

Citroen and Jeep together recorded 14,342 domestic sales over the last 12 months, while Stellantis targets annual production of over 43,000 units at its Thiruvallur facility by 2028

Stellantis has acquired full ownership of Stellantis Automobiles India Private Limited (SAIPL), which operates the Citroen manufacturing facility in Thiruvallur, Tamil Nadu. The company purchased the remaining stake held by Hindustan Motor Finance Corporation Ltd. (HMFCL), a CK Birla Group company, through a transaction funded by Foreign Direct Investment (FDI).

The announcement comes as Stellantis prepares to expand manufacturing and exports, even as its Indian passenger vehicle brands continue to record modest domestic volumes. Alongside the acquisition, the company outlined plans to increase Thiruvallur’s annual production by over 160% by 2028 and more than double its direct workforce.

Full Ownership Of Thiruvallur Manufacturing Operation

The manufacturing partnership dates back to 2017, with vehicle assembly at Thiruvallur beginning in 2021. The plant manufactures the Citroen C3, eC3, C3 Aircross and Basalt, supporting domestic demand and exports. Stellantis says the facility has achieved over 95% localisation and serves eight export markets across four continents. Full ownership of SAIPL is expected to simplify governance, improve integration and enable faster decision-making.

Production To Rise From 16,000 To Over 43,000 Units

Stellantis targets annual production at Thiruvallur to increase from 16,000 units in 2026 to more than 43,000 units by 2028. This represents a substantial expansion, supported by plans for new product investments, manufacturing capacity growth and stronger exports.

The direct workforce is projected to more than double from 610 employees in 2026. Further indirect employment is expected across the supplier and logistics network. The production target covers vehicles manufactured for both domestic and export markets.

Citroen, Jeep Sales Over Last 12 Months

Between September 2025 and August 2026, Citroen and Jeep recorded combined domestic sales of 14,342 units. Citroen contributed 11,244 units, while Jeep accounted for 3,098 units. This translates to an average of approximately 1,195 units per month across both brands. The figures highlight the scale of the domestic sales challenge as Stellantis commits to expanding its Indian operations. Citroen cars are produced at the Thiruvallur plant while Jeep cars are produced at Ranjangaon plant near Pune.

Cumulative India Investment Near Rs 11,000 Crore

Stellantis says it has invested over Euro 1 billion (Rs 11,000 crores) in India across manufacturing, product development, localisation and capability building. Shailesh Hazela, CEO and Managing Director of Stellantis India, said the ownership change would support closer integration and quicker responses to customer and market requirements. He also identified new products, deeper localisation and export competitiveness as priorities, without announcing specific models or launch timelines.

Against the backdrop of modest domestic volumes, the acquisition signals Stellantis’ intention to continue building its Indian operations. Achieving the 2028 production target will require a sustained increase in domestic demand, exports or both, making the next phase of product investment particularly important.