The Mirafiori complex will also become the company’s main hub for its so-called ‘circular economy’ business, focusing on reconditioning and dismantling of vehicles and reusing components, with Tavares seeing a prolonged shortage of raw materials.
“We believe there will be scarcity of raw materials and we think we can extend the life of materials we use, this is going to be very important for our company,” Tavares told a news conference in Turin. “The scarcity of raw materials will continue over the next decades,” he said.
Stellantis aims to boost recycling revenues ten-fold to $2 billion by 2030.
Union officials said the recycling operation could create work for 550 people by 2025.
Turin is the historic home of Fiat, which merged with France’s PSA Group last year to form Stellantis.
It is one of Stellantis’ main production sites in Italy along with Melfi in the south and Atessa’s Sevel for light commercial vehicles in central Italy. Including white collar staff, Mirafiori now employs 20,000 workers.
Production at Mirafiori, which also hosts the Stellantis battery hub for Italy, includes the full-electric 500 small car, one of the group’s bestsellers in Europe.