Renault expects $ 1.1 billion in revenue from its new recycling business

After the press conference, Renault CEO Luca de Meo will pose as part of a visit to introduce Re-Factory, a used car factory in Fran, France, on November 30, 2021. (BenoitTessier / Reuters)

France’s Franche-Renault said on Tuesday that an unlaunched recycling business could generate an additional € 1 billion ($ 1.13 billion) in revenue by the end of the decade.

Luca de Meo, Groupe’s CEO, told reporters that a former car production plant in the town of Flins near Paris is being used to recycle and readjust used cars. Vehicles and components. The reinvention of the site, which has been assembling models for the Electric Zoe and Nissan Micra for several years, was one of the central elements of Renault’s 2020 restructuring plan for French automakers to increase profitability.

($ 1 = 0.8840 euros)

By Gilles Guillaume