Automaker Stellantis N.V. and metals recycler Galloo plan to enter exclusive negotiations for a joint venture focused on end-of-life vehicle (ELV) recycling. They announced the signing of a memorandum of understanding covering the talks on Monday. A future Stellantis-Galloo joint venture will work in partnership with selected authorised treatment facilities (ATFs) to collect scrap cars from their last owners. The primary objective of the cooperation is to be recovering parts for reuse, remanufacturing, and recycling. The service is expected to launch by the end of 2023, initially targeting France, Belgium, and Luxembourg, before expanding across Europe. The joint venture intends to extend its services to other automakers, said the companies.
Alison Jones, Stellantis Senior Vice President for Global Circular Economy, said "We look forward to implementing the programme this year and quickly expanding." She noted that returning parts and materials to the value chain would help the automaker achieve its goal of reaching net carbon neutrality by 2038. Stellantis is the parent company behind more than 15 auto brands including Opel, Peugeot, Fiat, Vauxhall, Chrysler, Alpha Romeo, Jeep and Citroën.
Galloo CEO Rik Debaere said, "We are delighted to announce a new step forward in our long relationship first with Peugeot and Citroën, and now Stellantis, as we continue to lead the way in sustainable and responsible business by taking end-of-life vehicle recycling to a next level.”...
