Stellantis has signed a memorandum of understanding with Galloo, a leading company in metal recycling. The goal is that of setting up a joint venture for the recycling of end-of-life vehicles. As we know, the Automotive Group’s Dare Forward 2030 plan includes support for the creation of new businesses. linked to the circular economy.
What will the activities be? of the joint venture? According to what has been said, he will collaborate with the with authorized treatment plants to collect end-of-life vehicles from their last owner in order to be able to recover components that can be reused, remanufactured or recycled. As it turns out, the activities of the students are not. they should start at the end of 2023 in France, Belgium and Luxembourg. Over time, the joint venture will expand its business. its activities; also to other countries of the Old Continent.
In addition, it will offer the its services also to other car manufacturers, not limiting itself, therefore, only to the cars of the Stellantis Group. According to the Automotive Group, the businesses – recycling of cars will contribute to a 10-fold increase in revenues from recycling activities compared to 2021. of recycling and 4 times those deriving from the extension of the useful life of components by 2030, as well as the achievement of the goal of generating over 2 billion euros in revenues by 2030 set out in Stellantis' strategic plan.
Furthermore, the recycling program supports the Group’s goal of using 40% of green materials in new production vehicles by 2030. Alison Jones, Senior Vice President of the Circular Economy business unit of Stellantis, commented:
Make it easier easy for customers recycling of ELVs is easy. essential for reducing the environmental impact of vehicles. Putting components and materials back in the value chain helps conserve limited resources, supporting the goal of net-zero carbon emissions by 2038. We look forward to launching the program this year and ramping up rapidly.
Rik Debaere, CEO of Galloo, added:
We are pleased to announce a new step in the collaboration that started a long time ago with Peugeot and Citroën and which continues now with Stellantis and to continue the path towards a sustainable and responsible business model, taking the recycling of end-of-life vehicles to the next level. Together with Stellantis, we pave the way for innovation to ensure a brighter future. sustainable for all.
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