Stellantis, a global automaker, has recently announced a new joint venture with metal recycling specialist Galloo, aimed at fostering a more circular economy and achieving greener practices across its entire business by 2030. The partnership between Stellantis and Galloo will focus on implementing a service to recycle end-of-life vehicles (ELVs) from Stellantis brands and potentially other automakers.
While Stellantis took some time to embrace electrification, the company is now fully committed to adopting cleaner and more efficient strategies in its vehicle production. In addition to various projects related to electric vehicle (EV) batteries, Stellantis has set its sights on the North American EV market, heavily promoting its electrified Ram and Jeep brands.
The company has already unveiled its business plan, “Dare Forward 2030,” which outlines the goal of having 50% of its US vehicle sales and 100% of European sales comprised of battery electric vehicles (BEVs) by the end of the decade. Stellantis has also pledged to achieve complete carbon neutrality by 2038.
To achieve these ambitious targets, Stellantis is prioritizing circular economy strategies, focusing on remanufacturing, repair, reuse, and recycling. This is where Galloo, with its 85 years of experience, comes into the picture.
Stellantis has revealed that the joint venture with Galloo is not yet finalized. However, both parties have signed a Memorandum of Understanding, allowing exclusive negotiations to form the joint venture, which will primarily focus on the recycling of end-of-life vehicles (ELVs).
The plan is for Stellantis and Galloo to collaborate with authorized treatment facilities to collect ELVs from their final owners. These vehicles will then be utilized for parts that can be reused, remanufactured, or recycled. Alison Jones, Stellantis Senior Vice President for Global Circular Economy, emphasized the significance of making vehicle recycling convenient for customers, highlighting its role in reducing environmental impact and preserving valuable resources. Jones further expressed enthusiasm about implementing the program this year and expanding it rapidly.
The Stellantis-Galloo joint venture is anticipated to commence ELV recycling services before the end of the year, initially launching in France, Belgium, and Luxembourg, with plans for future expansion throughout Europe. Importantly, these services will be open to all automakers, not solely Stellantis brands. With this latest partnership, Galloo now incorporates a third major automotive brand into its vehicle recycling programs. Rik Debaere, CEO of Galloo, expressed delight in the progress made, having already worked with Peugeot and Citroƫn in the past. Debaere emphasized the joint efforts to drive innovation and ensure a sustainable future for all stakeholders.
