Renault expects $1.1 billion from new recycling business

Renault said on Tuesday that its recycling business, which is yet to be launched, could generate one billion euros ($1.13 billion) in revenue by the end of the decade.

“These activities will generate 200 million (euros) in turnover from 2025”, said Luca de Meo, the Renault CEO in his interview with reporters at a former car production plant in the town of Flins, near Paris.

The plant in question is being reorganized for the recycling and reconditioning of used vehicles and parts.

The renovation of the plant, which will continue to assemble the electric Zoe and Nissan Micra models for some years, was among the core elements of Renault’s 2020 restructuring plan, with which the French automaker looking to increase profit.