The Franco-Italian automaker Stellantis and its Belgian partner Punch Powertrain signed a contract for Stellantis’ Mirafiori factory in Turin to adhere to the Dare Forward 2030 targets and accelerate the production of electrified dual-clutch transmissions (eDCT) for hybrid and plugin electric vehicles, as reported by Yahoo Finance.
Carlos Tavares, the chief executive of Stellantis, announced intentions in March to double revenue to $300 billion annually by 2030 through manufacturing and selling more electric and hybrid automobiles. Without providing a specific amount, Tavares stated on Tuesday that the firm was investing “double-digit” million euros in the powertrain update.
Due to a persistent scarcity of raw materials in Tavares, the Mirafiori site will also serve as the company’s primary hub for its “circular economy” business, which focuses on refurbishing, disassembling, and recycling vehicle parts. By 2025, the recycling operation may employ 550 workers, as claimed by the union representatives.
Tavares stated in a news conference in Turin, “Scarcity of raw materials will continue in the next decade and we think we can extend the life of materials we use, this is going to be very important for our company.”
By 2030, the Franco-Italian group aims to boost recycling revenue by ten times, reaching 2 billion euros. Notably, Fiat has always been based in Turin’s Mirafiori. Last year, Fiat joined with PSA to establish Stellantis.
“Today’s announcements highlight both our commitment to Italy and our ability to take responsible decisions to anticipate the upcoming global change in our industry, as we push to achieve our Dare Forward 2030 targets,” said Carlos Tavares, Stellantis CEO. “I am very thankful to everyone involved in finalizing and executing these plans on our charge to becoming a sustainable mobility tech company with the bold objective to become carbon net zero ahead of competition.”
Besides Melfi in the south and Atessa’s Sevel for light commercial vehicles in central Italy, Mirafiori is among the primary manufacturing facilities for the company in that country. It currently has about 20,000 employees, including white-collar professionals.
According to Tavares, the manufacturing of the model could “easily” rise from 45,000 units in 2021 to quadruple after that because the shortage of semiconductors was affecting other parts rather than capacity or battery pack availability.
Meanwhile, production is anticipated to begin at the new Mirafiori e-Transmissions Assembly site in the second half of 2024.
Notably, the upgraded facility will boost the existing capacity in Metz, France. According to Tavares, it will serve all pertinent Stellantis manufacturing facilities in Europe. More importantly, it is expected to produce 1.2 million units annually in the two locations.
Stellantis has spent more than €5 billion in Italian businesses over the last four years for new products and production facilities. Remarkably, the company has also been providing training to upskill its personnel.