Loading...
Loading...
-
- Stellantis NV STLA and metals recycling entity, Galloo signed a Memorandum of Understanding to enter exclusive negotiations to form a joint venture.
- The JV will focus on End-of-Life Vehicle (ELV) recycling as part of the automaker's continued commitment to building its circular economy activities.
- The joint venture will work with selected Authorized Treatment Facilities to collect ELVs from the last owner, enabling the recovering of parts for reuse, remanufacturing, and recycling.
- "Making it easy for customers to recycle their End-of-Life Vehicles is a crucial element to reduce the environmental impact of our vehicles," said Alison Jones, Stellantis Senior Vice President for Global Circular Economy.
- "Returning parts and materials to the value chain preserves scarce resources and helps our drive to reach carbon net zero by 2038."
- Also Read: Stellantis, General Motors Pay $363M In US Fuel Economy Penalties
- The service is expected to launch at the end of 2023 with an initial focus on France, Belgium and Luxembourg.
- The joint venture will offer its services to other automakers.
- Recycling is an integral part of the Stellantis Circular Economy Business Unit's 4R Strategy- Reman, Repair, Reuse, Recycle.
- Also Read: Stellantis Joins Hand With Vulcan To Develop Geothermal Renewable Energy In France
- Price Action: STLA shares are trading lower by 0.76% at $15.75 on the last check Monday.
Loading...
Loading...
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in
