Stellants Tuesday He also plans for his business unit dedicated to the circular economy, which is the company’s division of jargon for decommissioning, sustainability and recycling.
The parent company, which owns brands such as Jeep, Dodge, Maserati and Peugeot, estimates that the new division will generate more than 2 billion euros in revenue by 2030 and drive the company’s carbon net-zero target by 2038.
The move comes after Stellants agreed to pay $300 million to settle criminal fraud charges after it pleaded guilty to concealing the amount of pollution produced by its diesel engines. Like other automakers that have faced similar scandals, such as Volkswagen, the Stellar has read the room and moved forward on a more environmentally friendly path.
The new unit, which Stellants first announced in March as part of its Bold Forward 2030 strategic plan, focuses on designing for a circular economy and the tried and tested 4R strategy – Remanufacture, Repair, Recycle, Recycle.
We really differ on what it’s like for the Stellents.
Designing for a circular economy
“In some respects, the circular economy starts at the design level. For any product or service, how do I design it to last as long as possible, through sustainability or recycling?” Alison Jones, senior vice president of Stellants’ global circular economy division, said in a press release on Tuesday.
In a circular economy, parts are expected to die, meaning they are designed to be broken down for recycling. Products are designed to be built with recycled materials, Jones said.
