Stellantis: invests in Italian operations
(CercleFinance.com) - On Tuesday Stellantis announced that it plans to invest in two production sites in Italy to accelerate its activities in electrified products and support its decarbonisation aims.
In a statement, the automotive group said it had reached a new agreement with its partner Punch Powertrain to increase production of the new generation of electrified dual-clutch transmissions for its hybrid and plug-in hybrid vehicles.
The upgraded facility, which will be located at the Mirafiori complex in Turin, Italy, will complement existing capacity in Metz, France, with both plants supplying all European sites.
Production at the new facility is scheduled to begin in the second half of 2024.
The Mirafiori complex has also been chosen to host the manufacturer's main circular economy hub, which will be responsible for vehicle reconditioning and parts reconditioning.
For the record, Stellantis says it wants to quadruple revenues from extended life parts and services, and to increase recycling revenues 10-fold in 2030 relative to 2021.
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