Stellantis and Galloo Set to Launch Joint Venture for Sustainable Vehicle Recycling

Stellantis and Galloo Set to Launch Joint Venture for Sustainable Vehicle Recycling

(IN BRIEF) Automaker Stellantis and metals recycler Galloo have signed an MoU to enter exclusive negotiations for a joint venture focused on End-of-Life Vehicle (ELV) recycling. The joint venture will collaborate with selected Authorized Treatment Facilities to collect ELVs, recover parts for reuse, remanufacturing, and recycling. The service will launch in late 2023, starting in France, Belgium, and Luxembourg before expanding across Europe. The ELV recycling program aligns with Stellantis’ circular economy strategy and aims to significantly increase recycling and parts revenues by 2030. The transaction is subject to final documentation and regulatory approvals.

(PRESS RELEASE) AMSTERDAM, 5-Jun-2023 — /EuropaWire/ — Stellantis N.V., (NYSE: STLA / Euronext Milan: STLAM / Euronext Paris: STLAP) a renowned global automaker and mobility provider, and Galloo, a leading metals recycler, have signed a Memorandum of Understanding (MoU) to initiate exclusive negotiations for the formation of a joint venture focused on End-of-Life Vehicle (ELV) recycling. This collaboration highlights Stellantis’ commitment to expanding its circular economy activities.

The Stellantis-Galloo joint venture aims to partner with selected Authorized Treatment Facilities to collect ELVs from their last owners, facilitating the recovery of parts for reuse, remanufacturing, and recycling. The service is slated to commence by the end of 2023, initially focusing on France, Belgium, and Luxembourg, before expanding throughout Europe. The joint venture will also extend its services to other automakers in the industry.

“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. We look forward to implementing the program this year and quickly expanding.”

“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,” said Rik Debaere, Galloo CEO. “Together with Stellantis, we are driving innovation and ensuring a more sustainable future for all.”

Recycling plays a pivotal role in Stellantis’ Circular Economy Business Unit’s 4R strategy: Reman, Repair, Reuse, and Recycle. The ELV recycling program is expected to significantly boost recycling revenues and parts revenues by 2030, aiming for a ten-fold increase and four-fold increase, respectively, compared to 2021. This aligns with the ambitious targets outlined in Stellantis’ Dare Forward 2030 strategic plan, aiming to generate over €2 billion in revenues by 2030. Additionally, the ELV recycling program contributes to Stellantis’ goal of incorporating 40% green materials in new vehicles by 2030.

The completion of the transaction is contingent upon reaching an agreement on definitive documentation and customary closing conditions, including regulatory approvals. Once finalized, this joint venture will mark a significant step forward in Stellantis’ commitment to sustainable practices and the development of a circular economy in the automotive industry.

About Stellantis

Stellantis N.V. (NYSE: STLA / Euronext Milan: STLAM / Euronext Paris: STLAP) is one of the world’s leading automakers and a mobility provider. Its storied and iconic brands embody the passion of their visionary founders and today’s customers in their innovative products and services, including Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, Fiat, Jeep®, Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move and Leasys. Powered by our diversity, we lead the way the world moves – aspiring to become the greatest sustainable mobility tech company, not the biggest, while creating added value for all stakeholders as well as the communities in which it operates. For more information, visit www.stellantis.com.

About Galloo

Founded in 1939, Galloo has become a leading player and innovative partner in the circular economy. Through an extensive network of 42 subsidiaries (BE, FR, NL) we manage the recovery, maximum transformation and re-use of metals (ferrous and non-ferrous) and certain types of industrial plastics for the global quality materials industry.

Every year, Galloo gives a second life to more than 1 million tonnes of steel and more than 60,000 tonnes of metals, and 35.000 tons of technical plastics, ensuring an environmental impact as low as possible.

Visit www.galloo.com or contact us via communication@galloo.com.

Media
communications@stellantis.com

Fernão SILVEIRA
+31 6 43 25 43 41
fernao.silveira@stellantis.com

SOURCE: Stellantis