PARIS – Carmaker Stellantis (NYSE: STLA), brands of which include Fiat, Peugeot and Vauxhall, said it had agreed to buy full control of its joint venture with Belgium’s Punch Powertrain, strengthening its position in hybrid vehicle technology.
Its venture with Punch Powertrain had focused on the production of dual-clutch transmissions (eDCT) for hybrid and plug-in electric vehicles.
Stellantis declined to provide financial details of its full buyout of the venture.
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Maria Reed is a financial journalist with a passion for covering US equities. She joined the ABBO News team in June 2023. Maria holds an M.S. degree in International Economics and Finance from Otto-von-Guericke University in Magdeburg and is a CFA Level 2 candidate. Read Full Bio
