• To accelerate its development, with a target of 50% growth in its business by 2030, Renault Group’s parts remanufacturing, based at the Flins Refactory, is joining The Future Is NEUTRAL as a new company.
• On this occasion, the entity takes a new name, THE REMAKERS, which highlights its expertise in remanufacturing and its ambition on a global scale.
• With 75 years of know-how, THE REMAKERS offers an expanded range of 9 families of automotive components representing 11,000 references of equivalent quality to new parts, on average 30% more economical for the customer and more environmentally friendly.
• THE REMAKERS aims to position itself as the European leader in the refurbishment of automotive parts, serving all players in the sector.

Boulogne-Billancourt, 2 May 2024 – The Future Is NEUTRAL is expanding its business portfolio with the integration of the automotive parts remanufacturing activity of the Flins Refactory. At the heart of the automotive circular economy value chain covered by The Future Is NEUTRAL, this activity has strong growth potential allowing it to become a key European player in parts refurbishment, serving the entire automotive sector. On this occasion, it took on a new name: THE REMAKERS.

“The creation of THE REMAKERS opens a new chapter and great prospects for growth. Our ambition is to increase our business by +50% by 2030. To do this, we have many assets: the expertise and recognized quality of our business, the engineering skills associated with those of Renault Group and our strategic plan. THE REMAKERS also benefits from synergies with the Flins Refactory, the first site in Europe dedicated to the circular economy of mobility, as well as from the link with The Future Is NEUTRAL, the first automotive circular economy company operating across the entire value chain in Europe.”  Rafael Tréguer, CEO of THE REMAKERS

THE REMAKERS: HISTORICAL KNOW-HOW FOR THE CHALLENGES OF TODAY AND TOMORROW

THE REMAKERS capitalises on know-how acquired since 1949 and widely recognized on the market. Its mission is to remanufacture automotive components to a level of quality equivalent to the original part, thanks to a combination of refurbished and new parts. This expertise will now be offered to the entire automotive industry, in line with the development and opening strategy of all The Future Is NEUTRAL activities.

Its growth will be supported by The Future Is NEUTRAL’s investment plan, totalling €500 million by 2030, to expand existing businesses and launch new ones. The European replacement parts market is dynamic and has high development potential. Estimated at around €6.8 billion in 2022, it is expected to reach €8.2 billion in 2030[1]. This increase is mainly driven by the aging of the vehicle fleet and the acceleration of electrification. Thanks to the support of Renault Group, a pioneer in electric vehicles, and its skills in reverse engineering, THE REMAKERS is taking a head start in the remanufacturing of electrical and electronic parts and intends to double its investments to anchor its leading position.

A name gathering History and the future

The name THE REMAKERS emphasizes the human, the collective, the expertise and the know-how acquired over time. Derived from the English word “maker“, THE REMAKERS describes those who, through action, give new life to out-of-use parts, a way of putting each of the employees, actors of the circular economy, in the spotlight. Impactful and modern,
THE REMAKERS also illustrates the company’s ambition for international development.

The prefix “RE” carries with it the genes of the circular economy (as in “remanufacturing” or “renovation”) and gives a nod to Renault Group and Refactory, while “THE” makes the link with The Future Is NEUTRAL.

THE REMAKERS’ OFFER: BETTER FOR THE PLANET AND PURCHASING POWER

Complementary to original parts and particularly suitable for an older fleet,
THE REMAKERS’ offer represents an alternative that is more environmentally friendly (savings in raw resources, energy and water and less CO2 equivalent emitted compared to the production of a new part) and more economical for the customer (on average 30% cheaper than a new part).

To take advantage of this market growth, THE REMAKERS is implementing a strategic plan that aims to expand its product portfolio and expand partnerships to consolidate its positions in Europe.

THE REMAKERS’ offer already covers 9 product families and includes more than 11,000 references: mechanical parts (engines, gearboxes, turbochargers, injectors), electrical parts (electric motors, power electronics boxes) and electronic parts (multimedia systems). THE REMAKERS aims to accelerate the launch of new parts on the market, in particular to support the growth of the hybrid and electric fleet. This is demonstrated by the announcement of the first electric vehicle engine remanufacturing offer in Europe (March 2024), as well as other projects under development on power electronics, with the support and expertise of recognized players.

[1] According to Deloitte’s market model, which was developed using data from ACEA, CLEPA and other external sources as well as insights from automotive industry experts.

• Renault Group is creating The Future Is NEUTRAL, the first company operating across the entire automotive circular economy value chain, aiming at moving the automotive industry towards resource neutrality.
• Bringing together all the existing expertise of the group and its partners in this activity, this new entity offers closed-loop (1)recycling solutions at each stage of a vehicle’s life: supply of parts and raw materials, production, use and end of life.
• With the objective of the business portfolio reaching a turnover (2) of more than 2,3 billion euros and an operating margin of more than 10% by 2030, The Future Is NEUTRAL aims to become the leader in industrial and European scale of the closed-loop automotive circular economy, at the service of car manufacturers as well as the entire industry.
• Renault Group is thus taking another step forward in its historic commitment to the circular economy.
  

Boulogne-Billancourt, October 13, 2022 – Today, Renault Group announced the creation of a new entity entirely dedicated to the circular economy: The Future Is NEUTRAL. By bringing together the existing industrial and technological expertise and assets of the group and its partners under a new brand, The Future Is NEUTRAL is the first company to operate across the entire automotive circular economy value chain, and is aimed at all players in the automotive world, beyond Renault Group.

In a context of energy transition marked by the scarcity of resources and inflation in the price of raw materials, this entity will develop more technological and industrial solutions thanks to the expertise of its subsidiaries and its network of partners already operating. It will enable the automotive industry to significantly increase the proportion of recycled materials from the automotive industry in the production of new vehicles. Today, a new vehicle contains only between 20 and 30% recycled materials from all industries.

In the short term, the entity aims at growing its existing businesses with a dedicated business model and developing new opportunities with the automotive industry. With the objective of the business portfolio reaching a turnover of more than €2,3 billion^[2] and an operating margin of more than 10%^[2] by 2030, The Future Is NEUTRAL aims to be the industrial and European leader in the closed-loop automotive circular economy.

Finally, in order to accelerate its development and strengthen its leadership in a fast-growing market, The Future Is NEUTRAL is opening up a minority of its capital to outside investors with a view to co-financing investments of around €500 million until 2030.

“Today we are taking another step in our historic commitment to the circular economy. Our subsidiaries Gaia, Indra and Boone Comenor, as well as the Refactory in Flins, have already demonstrated our ability to generate activities that create economic, social and environmental value throughout the vehicle life cycle. Based on this experience and convinced of the potential of these activities, we are accelerating and creating The Future Is NEUTRAL, which brings together all our industrial and technological assets, as well as our network of strategic partners. Its mission: to grow its business with ambitious strategic plans and new outlets by offering the automotive industry, faced with the climate challenge, new regulatory requirements and increasing pressure on resources, closed-loop recycling solutions, i.e. from car to car . Our ambition is to bring recycling into a new era and become the European leader in the automotive circular economy.”

Luca de Meo, CEO of Renault Group

“From car to car”: the car as a raw material

Every year in Europe more than 11 million vehicles, made up of around 85% recyclable materials, reach the end of their life. However, this resource is under-exploited: new vehicles are made up of only 20-30% of recycled material, from all industries. Today, the recyclable material from end-of-life vehicles is mostly recovered for other industrial applications (metallurgy, construction, etc.). The objective of The Future Is NEUTRAL is to maintain the value of parts and materials for as long as possible and to enable the industry to achieve a much higher rate of recycled automotive materials in the production of new vehicles.

The Future Is NEUTRAL’s expertise

The company’s strength lies in its ability to mobilise a network of subsidiaries and partners to collect parts, materials and batteries throughout the automotive lifecycle, from scrap cars, factory rejects and garages. Thanks to this ecosystem, The Future Is NEUTRAL is developing circular economy loops at each stage of a vehicle’s life, from the production phase to the use and end of life of vehicles.

In concrete terms, The Future Is NEUTRAL relies on its subsidiary Gaia, whose battery repair, parts collection and reuse, and recycling of materials from end-of-life vehicles (ELVs) are based in Flins.
Also located at the heart of the Flins Refactory, the renovation of mechanical and mechatronic parts, as well as the future vehicle dismantling line, aim to supply these circular flows. With its reference partner Suez, the entity also owns two companies: Indra^[3], the leader in ELV treatment in France, with more than 370 approved centres, and Boone Comenor^[4], an expert in the recycling of metal scraps from industry^[5].

Alongside industrial partners, The Future Is NEUTRAL aims at becoming a future European leader in closed-loop battery recycling, in line with regulations, and attractive to other car manufacturers by leveraging a world-class industrial process in terms of yield and purity to ensure the required level of recycled content in their batteries at the best cost. To develop Europe’s first closed-loop battery recycling offer, the entity relies on Europe’s largest fleet of electric vehicles^[6], high-content chemistry^[7] and capitalises on INDRA’s expanding network to assist in battery collection and GAIA’s expertise in battery diagnosis. Finally, The Future Is NEUTRAL will also work with its battery manufacturer partners, such as Verkor, to pool their end-of-life batteries with production waste.

To carry out its activities, The Future Is NEUTRAL relies on a wide range of technical skills, from advanced engineering and chemistry to the use of data, which it places at the heart of its business model to optimise the economic and environmental performance of its solutions.

The Future Is NEUTRAL also offers the automotive industry a consultancy service, as well as training dedicated to the circular economy, with the support of the Circular Mobility Industry (ICM) campus based in Flins, as part of the group’s ReKnow University.

www.thefutureisneutral.com

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¹ Closed loop: i.e. from the car to the car.

² Total Scope, Sum of the Parts.

³ Indra is a joint venture owned 50% by Renault Group and 50% by Suez.

⁴ Boone Comenor is a joint venture owned 33% by Renault Group and 67% by Suez.

⁵ In 10 years, the activities developed by the Gaia, Indra and Boone Comenor subsidiaries have already made it possible to recover 14 million tonnes of steel, the equivalent of more than 17 million vehicles, a year’s production in Europe, and 12,000 tonnes of plastics and copper, enough to supply one year’s production of Renault Megane in polypropylene.

⁶ 900,000 Renault and Nissan electric vehicles on the road by 2022. 

⁷ Chemicals rich in nickel, manganese, cobalt and lithium.