85 percent of modern vehicles are recyclable, according to the French automaker. They also stated that every year, 11 million cars reach the end of their lives in Europe. This neglected gold mine could be tapped into if appropriate measures were taken.
The goal of the new firm is to keep parts and materials valuable while also allowing the sector to reach a much greater rate of recycled automobile components. It also wants to become Europe's leading closed-loop battery recycler.
By doing so, Renault aims to make The Future Is NEUTRAL a competitive battery supplier that may enter into contracts with other manufacturers. Its aim is for the company to generate €2.3 billion in sales and an operating margin of more than 10% by 2030 through this business.
Source: Renault
