A new division of the maker of Jeep SUVs and Ram pickup trucks has the mission of ensuring the vehicles and their parts last as long as possible as the industry battles parts constraints and fears of electric-vehicle battery shortages in the future.
Stellantis NV's "circular economy" business unit is one of seven pillars of the automaker's Dare Forward business plan announced in March. It forecasts efforts around reusing and recycling parts, including EV batteries, will result in more than $1.9 billion (2 billion euro) in annual revenue at the end of the decade and help it to achieve its net-zero carbon goal by 2038. That's a quadrupling of extended-life revenues and 10 times the recycling income of 2021.
"Before now, we have had great teams doing great work all around the company, effectively contributing to using our waste and using our scarce resources as smart and as efficiently as possible," CEO Carlos Tavares said in a recorded video statement. "Across the world, we have been doing the work, but now we are pushing into overdrive at high voltage and the dedicated business unit has a clear plan to both meet our ethical responsibilities for our collective future and to bring financial value to Stellantis."
