Stellantis completes buyout of India JV, acquires Tamil Nadu plant
Stellantis has just taken full control of its Indian joint venture by buying out its partner, ending a partnership that started in 2017.
With this move, Stellantis now completely owns the Thiruvallur factory in Tamil Nadu, the place where Citroen cars for India and eight export markets are built.
Stellantis targets 43,000 cars by 2028
With 100% ownership, Stellantis plans to ramp up production at the plant from 16,000 to over 43,000 cars a year by 2028 and more than double its direct shopfloor workforce.
CEO and Managing Director, Stellantis India Shailesh Hazela says "India remains a key pillar of Stellantis's growth strategy. Having invested close to ₹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." with nearly ₹11,000 crore already invested.