The electric vehicle market continues to grow. While this trend is beneficial for reducing carbon emissions and good for the environment, it also presents another environmental concern. Electric vehicles, due to their batteries, have a shorter lifespan compared to traditional cars, leading to a significant risk of hazardous technological waste. Fortunately, Stellantis and Galloo have a solution to this problem.
Stellantis and Galloo to Recycle Electric Vehicles
According to a report from Future Flow Life, one of the leading websites in sustainability and clean energy, the metal recycling initiative Galloo and automotive manufacturer Stellantis have taken a significant step to address the environmental pollution arising from the increasing production of electric vehicles and to promote sustainability.
Stellantis and Galloo have signed a Memorandum of Understanding to engage in specialized negotiations to form a joint venture aimed at recycling vehicles that have reached the end of their operational life.
Europe's best-selling electric car list has been announced. Tesla takes the lead in Europe with two models.
The Stellantis-Galloo joint venture will work alongside selected “Authorized Treatment Facilities” to collect end-of-life vehicles (ELVs) from their last owners. The goal is to recover parts for reuse, remanufacturing, and recycling.
The service will initially focus on France, Belgium, and Luxembourg starting at the end of 2023, before expanding across Europe. The joint venture will also offer this service to other automakers.
Alison Jones, Senior Vice President in charge of Global Circular Economy at Stellantis, emphasized their commitment to facilitating the recycling process of end-of-life vehicles. She noted that they eagerly anticipate implementing and quickly expanding the program, underlining their goal to achieve net-zero carbon emissions by 2038.
Target to Generate Over 2 Billion Euros in Revenue
Galloo CEO Rik Debaere expressed his happiness for taking a new step in their long-standing relationship with Stellantis, formerly known as Peugeot and Citroen.
Recycling is an integral part of Stellantis’s Circular Economy Business Unit’s 4R strategy, which stands for “Repair, Reuse, Remanufacture, Recycle.” The ELV recycling program is expected to contribute to a tenfold increase in recycling revenue and a fourfold increase in parts revenue by 2030 compared to 2021.
As outlined in Stellantis’s Dare Forward 2030 strategy, the goal is to generate more than 2 billion euros in revenue by 2030. The ELV recycling program also supports Stellantis’s aim to use 40% environmentally friendly materials in new vehicles by 2030.
