By Gilles Guillaume FLINS, France (Reuters) - Renault said on Tuesday that its yet-to-launch recycling business could generate an extra one billion euros ($1.13 billion) in revenue by the end of the decade.
By Gilles Guillaume
FLINS, France (Reuters) – Renault said on Tuesday that its yet-to-launch recycling business could generate an extra 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”, Renault Chief Executive Luca de Meo told reporters at a former car production plant in the town of Flins, near Paris, which it is repurposing for the recycling and reconditioning of used vehicles and components. The reinvention of the site, which will continue to assemble the electric Zoe and Nissan Micra models for a few years, was one of the core elements of Renault’s 2020 restructuring plan, with which the French carmaker aims to hike profitability.
($1 = 0.8840 euros)
(Writing by Tassilo Hummel; Editing by Alexander Smith)
Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV. Learn more about Thomson Reuters products: