Vehicle maker Renault has said it anticipates revenue of €200 million (£170 million) per year by 2025 from its French circular economy factory.
Refactory in Flins-sur-Seine has now been open for a year and reconditions cars using reused and recycled parts using the same quality standards as new vehicles.
Renault Group chief executive Luca de Meo said: “We are keeping our promise: one year after its launch, the Refactory embodies an innovative and ambitious project for the Flins plant, a new source of economic, social and environmental value.
“The Refactory is emblematic of the Renaulution project, which commits the Group to a profound, rapid and sustainable transformation, driven by value creation. At the heart of this project, our first used car factory demonstrates our ability to industrialize our businesses linked to the circular economy.
“This used car factory positions us at the top level of the growing used car market, with a unique industrial tool capable of reconditioning up to 45,000 vehicles per year.”