PARIS — Renault will seek to generate more than 1 billion euros ($1.20 billion) in sales from the so-called “circular economy” by turning its Flins factory outside Paris into a research, recycling and repair center.
“Our ambition, by 2030, is to achieve more revenue [from recycling and repair at Flins] than from assembling cars there,” CEO Luca de Meo told French weekly Journal du Dimanche.
The automaker also aims to generate more than 1 billion euros in turnover in the circular economy, de Meo added.
This represents a little more than 2 percent of the Renault’s total sales in 2020.
Renault will report its first-quarter sales on Thursday.
Renault confirmed last year that it would stop building cars at the Flins factory and turn the site into a research, recycling and repair center by 2024 in a move to save full-time jobs at the plant.
The money-losing carmaker said it aimed to employ 3,000 people at the revamped site by 2030.