Stellantis will invest more than €10 million (£8.7m) in building a vehicle remanufacturing facility at its Mirafiori plant in Turin, Italy, CEO Carlos Tavares has confirmed.
The complex, which currently produces the Fiat 500 Electric, will become the company’s Circular Economy Hub from 2023, taking charge of second-hand vehicle reconditioning, dismantling and parts remanufacturing.
This will play a key role in Stellantis’s plan to increase recycling revenues by 10 times by 2030 (compared with 2021). Mirafiori alone is targeting €2 billion (£1.75bn) in 2030.
The focus on vehicle refurbishment mirrors that of Renault and Toyota.
