Stellantis acquires HMFCL’s remaining stake
Global automotive major Stellantis India has completed the acquisition of the remaining stake held by Hindustan Motor Finance Corporation Limited (HMFCL) in Stellantis Automobiles India Private Limited (SAIPL).Following the completion of the transaction, Stellantis now has 100% ownership of SAIPL and its manufacturing facility in Tiruvallur, Tamil Nadu.
What does full ownership mean?
Stellantis said the acquisition, completed through foreign direct investment (FDI), marks an important milestone in its long-term India strategy.With complete ownership, the company expects deeper operational integration and faster decision-making. It also aims to respond more quickly to changing customer requirements in the Indian market, which remains an important part of its global growth strategy.
Production target to cross 43,000 units
Stellantis has also outlined an expansion plan for its Tiruvallur manufacturing facility.The company aims to increase annual production from around 16,000 units in 2026 to more than 43,000 units by 2028. This represents an increase of more than 160% over the 2026 production level.
Direct employment expected to double
The planned expansion is also expected to create more employment opportunities. currently has around 610 direct employees at the facility in 2026 and expects the workforce to more than double by 2028. The company also expects additional indirect employment opportunities through its supplier and logistics ecosystem.
Tiruvallur facility strengthens export network
The Tiruvallur plant is currently supplying vehicles to eight key export markets across four continents.Stellantis is looking to further strengthen the facility’s role within its global manufacturing and export network as part of its broader India strategy.
Around ₹11,000 crore invested in India
Commenting on the development, Shailesh Hazela, CEO and Managing Director, Stellantis India, said India remains an important pillar of the company’s growth strategy.He said Stellantis has invested around ₹11,000 crore in India to build a strong manufacturing, engineering and export ecosystem. According to Hazela, full ownership will provide deeper integration and improve the company’s ability to respond quickly to customer and market requirements.
