Stellantis and Belgian metals recycler Galloo announced plans to form a joint venture (JV) focused on end of life-vehicle (ELV) recycling.
The pair signed an MoU to enter exclusive negotiations but no financial details were announced.
The JV would collaborate with so-called ‘authorised treatment facilities’ to collect ELVs from last owners.
It would recover parts for recycling and remanufacturing, limiting the use of raw materials making new components.
Stellantis said in a statement this was “an integral part of the Stellantis circular economy business unit’s 4R strategy – reman, repair, reuse, recycle”.
“Returning parts and materials to the value chain preserves scarce resources and helps our drive to reach carbon net zero by 2038. We look forward to implementing the program this year and quickly expanding”, said Alison Jones, Stellantis senior VP for global circular economy.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
The new JV will launch late in 2023 focused initially on France, Belgium and Luxembourg.