By Maitane Sardon

 

Stellantis NV said it sees its circular-economy business unit aimed at reducing waste and prolonging the life of its vehicles and its components reaching 2 billion euros ($1.94 billion) in revenue by the end of the decade.

The car maker said Tuesday that it has designed a plan to ensure the unit achieves more than EUR2 billion in revenues by 2030.

As part of the plan, the company said it aims to increase the amount of materials it recycles and expand its circular activities to new countries.

It said it will set up a Circular Economy Hub at its Mirafiori Complex in Italy next year. The hub will host vehicle-reconditioning, vehicle-dismantling and parts-remanufacturing activities, Stellantis said.

 

Write to Maitane Sardon at maitane.sardon@wsj.com

 

(END) Dow Jones Newswires

October 11, 2022 11:52 ET (15:52 GMT)

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