Stellantis has just added a brick to its ambitious strategy in the circular economy. The automotive group with 14 brands creates a joint venture with the Belgian Galloo, a scrap metal dealer turned recycler of metals and technical plastics. They will join forces to better manage the end of life of vehicles, recycle and reuse certain components.
The new company, operational at the end of the year, will expand to France, Belgium and Luxembourg before expanding its activity throughout Europe. It will not only treat old Peugeot, Citroën or Opel vehicles - the brands of Stellantis - but will offer its services to other manufacturers.
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A bit like Renault and Suez, which took over Indra Automobile Recycling 15 years ago, a company specializing in the demolition and recovery of end-of-life vehicle components.
Repair, reconditioning and recycling
Car manufacturers are obliged by European legislation to take charge of the recovery of end-of-life vehicles. They intend to make this obligation a real business. The management of Stellantis hopes for a turnover of 2 billion euros in 2030 around three axes: repair, reconditioning and recycling.
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Last October, the Renault group created its subsidiary, called The Future Is Neutral. The aim is to become the leader in the automotive circular economy with a turnover of €2.3 billion and an operating margin of more than 10% by 2030. Who can top that?