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What is the difference between CNC lathes and turning centers?

What is the difference between CNC lathes and turning centers?
The CNC lathe that can be milled is generally called the turning and milling combined machining center. Most of the machining centers are equipped with a tool magazine. The turning machining center first has an indexable tool magazine, and can also be automatically clamped and fed. It can be called a turning machining center.
To machine a reducer housing, the height is more than 500, and the diameter is almost 600. It is necessary to machine the front and rear end faces, the inner inner circle and the middle annular step surface. Want to know, can you complete the front (or rear) end face, inner circle, and annular step surface on one ordinary vertical car?
If it can't be done in one time with a normal vertical car, can it be processed once in the CNC vertical car?
I also know that the vertical turning center should be able to be finished in one time, but the vertical turning center machine is too expensive.
CNC lathes and turning centers