M&A

M&A

Dutch carmaker Stellantis acquires partner CK Birla Group’s stake in India JV

Business Standard   Stellantis  

Dutch carmaker Stellantis has acquired the remaining stake in its India manufacturing joint venture, Stellantis India Automobile Pvt Ltd, from its partner, the CK Birla group. This transaction grants the automotive firm full ownership of the manufacturing facility located in Thiruvallur, Tamil Nadu. The acquisition was funded through foreign direct investment.Set up in 2017 as a joint venture between Stellantis and the CK Birla Group, the firm operates the manufacturing facility producing Citroen vehicles, including the C3, e-C3, C3 Aircross and Basalt, with more than 95% localisation.The company plans to increase production at the unit from about 18,000 units in 2026 to around 50,000 units by 2027 to support its strategy of developing India into a global export hub.