Circular economy

Renault wants to generate 1 billion euros from 'circular economy' by 2030

Renault wants to turn a french factory into a research, recycling and repair centre and achieve more money with it than from assembling cars by 2030.

Renault is going to turn its Flins factory outside Paris into a research, recycling and repair centre and will generate more than 1 billion euros in sales from circular economy.

Renault’s chief executive Luca de Meo told the french "du dimanche" that the company will will seek to generate more than 1 billion euros in sales from the so-called “circular economy” by turning its Flins factory outside Paris into a research, recycling and repair centre.

“Our ambition, by 2030, is to achieve more revenue (from recycling and repair at Flins) than from assembling cars there,” said de Meo. “And to generate more than a billion euros in turnover in the circular economy.”

This represents a little more than 2% of the Renault’s total sales in 2020. The group will report its first-quarter sales on Thursday.

Renault confirmed last year that it would stop assembling new cars at the Flins factory and turn the site into a research, recycling and repair centre by 2024 in a move to save full-time jobs at the plant.

The loss-making carmaker said it aimed to employ 3,000 people at the revamped site by 2030.