With the Dare Forward 2030 plan, the Stellantis group is committed to carbon neutrality with the objective of selling only 100% electric cars by 2030 in Europe. But this plan also gave pride of place to the circular economy, which was destined to see great development, of which this partnership with Galloo for vehicle recycling is part.
Stellantis and Galloo, a leading metal recycler, announce today that they have signed a memorandum of understanding to begin negotiations to create a joint venture specializing in the recycling of end-of-life vehicles (ELVs). This announcement confirms the manufacturer's commitment to develop its circular economy activities.
The Stellantis-Galloo joint venture will work with a selection of approved processing centers who will collect the ELVs from their last owners to enable the refurbishment, reuse and recycling of the various salvaged parts. The launch of activities is planned for the end of 2023 in France, Belgium and Luxembourg, before being rolled out throughout Europe. The joint venture will also offer its services to other car manufacturers.
Alison Jones, Senior Vice President Global Circular Economy at Stellantis says “If we want to reduce the impact of our vehicles on the environment, it is essential that customers can easily recycle their end-of-life vehicles. Bringing parts and materials back into the value chain helps preserve our planet's finite resources and contributes to our goal of achieving carbon neutrality by 2038. We look forward to starting this program this year and rolling it out quickly. »
For his part, Rik Debaere, CEO of Galloo said "We are delighted to announce this new step forward in our long-standing partnership with Peugeot and Citroën, then with Stellantis. , and to continue to lead the way towards sustainable and responsible activities by giving a whole new meaning to the recycling of end-of-life vehicles. Together, with Stellantis, we are leading the way in innovation to ensure a more sustainable future for all. »
Recycling is an integral part of the Stellantis Circular Economy Business Unit strategy, based on the 4R principle: Reman, Repair, Reuse, Recycle. The ELV recycling program will contribute to multiplying by 10 the turnover related to recycling and by 4 that of spare parts compared to 2021, and will generate more than 2 billion euros in turnover by 2030, one of the goals set out in Stellantis' Dare Forward 2030 Strategic Plan. This recycling program also supports Stellantis' ambition to incorporate 40% green materials into its new vehicles by 2030.
The transaction will be finalized following the execution of the definitive documents and will be subject to customary closing conditions as well as regulatory approvals.
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