Salem Radio Network News Monday, September 26, 2022

Business

Stellantis invests in Italian plant as part of switch to electric

TURIN, Italy (Reuters) – Stellantis signed an agreement with its partner Punch Powertrain to increase production in Italy of electrified dual-clutch transmissions (eDCT) for hybrid and plug-in hybrid electric vehicles, the carmaker said on Tuesday.

The upgraded facility will be developed within Mirafiori, Stellantis’ main plant in Turin, northern Italy, and it will complement the existing capacity of a plant in the French city of Metz, it added.

The new Mirafiori e-Transmissions Assembly site is expected to start production in the second half of 2024.

At full production, the Mirafiori and Metz facilities together will supply all relevant Stellantis manufacturing sites in Europe.

The Mirafiori Complex will also become the company’s main hub for the reconditioning and dismantling of vehicles and reuse of parts as part of efforts to boost recycling revenues 10 times by 2030.

Producing and selling more electric vehicles is a key plank in plans set out in March by Stellantis CEO Carlos Tavares to double revenue to 300 billion euros ($330 billion) a year by 2030.

(Reporting by Giulio Piovaccari, writing by Cristina Carlevaro, editing by Keith Weir)

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