Stellantis and Gallu form a joint venture to recycle end-of-life vehicles
Thus, Stellantis NV and Gallu, a leader in metal recycling, today announced that they have signed a memorandum of understanding to begin negotiations to form a joint venture specializing in end-of-life vehicle (ELV) recycling. This announcement confirms the manufacturer’s commitment to the development of its circular economy activities.
The Stellantis-Gallu joint venture will work with a selection of licensed treatment centers that will collect ELV from their end owners to enable the restoration, reuse and recycling of various recovered parts. The launch of Activities is scheduled for late 2023 in France, Belgium and Luxembourg, before a pan-European roll-out. The joint venture will also provide its services to other car manufacturers.
“If we want to reduce the impact of our vehicles on the environment, it is vital that customers are able to easily recycle their old vehicles,” said Alison Jones, SVP of Global Circular Economy at Stellantis. “The reintegration of parts and materials into the value chain conserves our planet’s limited resources and contributes to our goal of achieving carbon neutrality by 2038. We look forward to introducing this program this year and launching it quickly Are.”
“We are delighted to announce this latest step in our long-term partnership with Peugeot and Citroën, and subsequently Stellantis, and continue to move towards sustainable and responsible business by giving new meaning to end-of-life vehicle recycling lifetime,” said Rick Debre, CEO of Gallu. “Together with Stellantis, we are leading innovation to ensure a more sustainable future for all.”
Recycling is an integral part of Stellantis circular economy business unit strategy, which is based on the 4R principle: Remain, Repair, Reuse, Recycle. The ELV recycling program will help increase recycling revenue by 10 times and spare parts by 4 times compared to 2021, and generate more than €2 billion in revenue by 2030, one of the goals set out in Stellantis’ Dare Forward 2030 strategic plan. This recycling program also supports Stellantis’ ambition to integrate 40% eco-friendly materials into its new vehicles by 2030.
The transaction will close upon the signing of the final documents and will be subject to customary closing conditions and regulatory approvals.
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