Stellantis, a leader in the global auto industry, has earmarked a formidable Rs 2,000 crore investment for its Citroen brand in Tamil Nadu. This influx, distributed over six years, will escalate the firm’s investment in the region to a staggering Rs 3,250 crore.
Unveiled at Chennai’s Global Investors Meet, this commitment aligns seamlessly with India’s ‘Make in India’ vision. It signals a pivotal shift for the automotive sector in Tiruvallur district, promising a boost to both traditional and electric vehicle manufacturing.
The investment targets not just capital expenditure but also the pursuit of breakthroughs at the Chennai Tech Center. Stellantis aims to be at the forefront of igniting economic vitality and driving forward-thinking in the region’s automotive industry.
The Memorandum of Understanding, inked in the presence of Tamil Nadu Chief Minister M.K. Stalin, underscores the government’s endorsement of this ambitious undertaking.
Aditya Jairaj, CEO & MD of Stellantis India, shared insights on this strategic move, “This substantial investment under the Citroen brand underscores our commitment to India’s automotive market. Tamil Nadu has consistently demonstrated its suitability for business, offering a conducive environment for growth.”
He further added, “With firm state support, we aim to strengthen production capabilities and spearhead technological advancements, reinforcing our position as a driving force for sustainable growth and innovation.”
Stellantis’ investment is a bold statement of confidence in India’s automotive potential, particularly in Tamil Nadu. It represents a significant stride toward elevating India’s role in the international automotive arena, especially in sustainable and innovative mobility solutions.
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