TURIN -- Stellantis has chosen Italy's historic carmaking city of Turin for an investment to boost its role in low emission vehicle production and as a center for the recycling of cars and their parts.
The automaker signed an agreement with its Belgian partner Punch Powertrain to increase production of electrified dual-clutch transmissions (eDCT) for hybrid and plug-in hybrid electric vehicles at its Mirafiori plant.
Producing and selling more electric and hybrid vehicles is a key plank in plans set out in March by Stellantis CEO Carlos Tavares to double revenue to 300 billion euros ($300 billion) a year by 2030.
The Mirafiori production will complement the existing capacity of a plant in the French city of Metz, Stellantis said in a statement on Tuesday
Tavares said on Tuesday that the automaker was investing upwards of 10 million euros in the gearbox upgrade, without giving a precise figure.
Stellantis plans to produce 600,000 eDCT transmissions annually in Mirafiori and 600,000 in Metz. At full production, the two facilities will supply all relevant Stellantis manufacturing sites in Europe.
The Mirafiori site is expected to start production in the second half of 2024.