Stellantis Elevates Revenue Goal for Circular Economy Hub

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Stellantis’ Circular Economy Triumph

Stellantis, the multinational automotive group, is set to revise its revenue target for the “circular economy” unit, showcasing a remarkable 25% growth this year. Inaugurating its pioneering hub in Turin, CEO Carlos Tavares emphasized the profitability and robust potential of this sustainable business model.

A Vision for Sustainable Growth

Part of Stellantis’ ambitious long-term plan involves generating €2 billion in revenue by 2030 from its circular economy unit. The impressive 25% growth witnessed so far in 2023 signals a need for an upward revision in the revenue target, reflecting the success and viability of their sustainability-focused initiatives.

Mirafiori Hub: Epicenter of Circular Innovation

In the Mirafiori complex, Stellantis has dedicated its new circular economy hub to extend the lifespan of automotive parts and vehicles. The facility also prioritizes component reconditioning and material recycling, contributing to a more sustainable manufacturing loop.

Investment in Sustainable Employment

Stellantis has invested €40 million in the Mirafiori hub, showcasing its commitment to sustainable practices. The site currently employs 170 highly-trained individuals, with projections indicating a substantial workforce increase to around 550 people by 2025. This investment not only underscores Stellantis’ dedication to circular economy principles but also supports the growth of sustainable employment in the region.

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