Automotive conglomerate Stellantis has announced that it will make an additional investment of Rs 2,000 crore in Tamil Nadu, which houses Citroen India’s manufacturing facility in its Tiruvallur district. This investment will be made over a period of six years in the state.
- Stellantis, Tamil Nadu government sign non-binding MoU
- Investment to be made over 6 years in Tamil Nadu
The company formally exchanged a non-binding MoU with the Tamil Nadu government during the state’s Global Investors Meet 2024 held in Chennai on January 7 and 8. The newly announced capital is in addition to the Rs 1,250 crore the company had committed in 2019 in the state, and has already executed and surpassed this threshold in 2023.
The brand says this move aims to significantly expand Citroen's presence, covering both internal-combustion engine (ICE) and electric vehicle (EV) manufacturing in India, adding that the investment encompasses both capital expenditure and R&D activities at the Chennai Tech Centre.
Aditya Jairaj, CEO and MD of Stellantis India, says, “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.”
Citroen India’s future launches
The Citroen brand was introduced in the Indian market in 2021 and currently offers hatches like the C3 and eC3, and SUVs like the C3 Aircross and C5 Aircross.
Citroen is working on a crossover sedan called the C3X, which has been spied testing abroad and in India as well. The new model was originally scheduled to debut sometime in 2024, however, we recently learnt that the brand has gone back to the drawing board to equip the sedan with more features, which could delay the timeline.
We also have news that Citroen will be launching a new variant of the C3 hatchback and C3 Aircross SUV, with an automatic gearbox. The turbo-petrol models are currently sold with a 6-speed manual gearbox and the new variant will likely feature an Aisin-sourced 6-speed torque converter automatic gearbox.
Hormazd Sorabjee
Anurag Chaturvedi
