# Stellantis to take 32% stake in Miracle Automation's engine remanufacturing unit

Stellantis, through its unit Automobiles Peugeot, plans to take a 32% stake in Miracle Oruide Guangzhou Auto Parts Remanufacture, a subsidiary of Miracle Automation Engineering, by raising the unit's registered capital. The deal aims to expand into auto parts recycling and refabrication.

- Type: Acquisition
- Announced: 2023-04-10
- Where: China
- Status: announced
- Capacity: 50,000 car engines per year
- Products: remanufactured engines, gearboxes, new energy batteries, motors
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [Stellantis](https://endata.com/companies/7966.md) (acquirer)
- [Miracle Automation Engineering](https://endata.com/companies/39722.md) (target)
- [Miracle Oruide Guangzhou Auto Parts Remanufacture](https://endata.com/companies/69652.md) (target)

## Sources

- [yicaiglobal.com](https://www.yicaiglobal.com/news/stellantis-to-take-32-stake-in-engine-remanufacturing-unit-of-china-miracle-automation), 2023-04-11: "Stellantis unit Automobiles Peugeot will make the investment by raising the registered capital of Miracle Oruide Guangzhou Auto Parts Remanufacture, Wuxi-based Miracle Automation announced yesterday, citing the agreement it recently signed with Stellantis."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.