The record
Written from the 1 report below. Nothing here is unsourced.
- Stellantis India bought out the stake of its partner, Hindustan Motor Finance Corporation, in the joint venture entity operating the Tiruvallur plant.
- This acquisition grants Stellantis complete control over the facility to improve decision-making speed.
- The company plans to increase annual production at the site from 18,000 units in 2026 to over 50,000 units by 2027.
- This expansion aims to boost exports and nearly double the local workforce to over 1,000 employees.
What to watch next
- Stellantis's upcoming announcement regarding additional investments linked to production ramp-up
- Stellantis's evaluation of new export markets for vehicles produced in Tiruvallur
Who said what2
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Shailesh Hazela
CEO and Managing Director of Stellantis India
2 quotes · 1 outlet
“The acquisition would provide greater flexibility and agility in decision-making and enable the company to respond faster to market and customer requirements”
In the article
…(HMFCL), a CK Birla Group company, in the joint venture entity Stellantis Automobiles India Pvt Ltd (SAIPL). The details of the amount invested in the transaction and the percentage of stake bought were not disclosed. The acquisition would provide greater flexibility and agility in decision-making and enable the company to respond faster to market and customer requirements , Shailesh Hazela, CEO and Managing Director, Stellantis India, told businessline. “Both partners agreed to keep the information on equity sold and amount paid confidential,” he added. Stellantis is also working with…
“Both partners agreed to keep the information on equity sold and amount paid confidential”
In the article
…provide greater flexibility and agility in decision-making and enable the company to respond faster to market and customer requirements, Shailesh Hazela, CEO and Managing Director, Stellantis India, told businessline. “ Both partners agreed to keep the information on equity sold and amount paid confidential ,” he added. Stellantis is also working with the Tamil Nadu government for additional investment linked to the production ramp-up and it will be announced, Hazela said. Stellantis and the CK Birla Group began their…
Coverage1
All filed from India
Named India · CK Birla Group · Government of Tamil Nadu · Hindustan Motor Finance Corporation · Stellantis Automobiles India · Tamil Nadu · Shailesh Hazela · Stellantis
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