French car maker Renault (RNL.F) has announced a new initiative to help it reach a goal of recycling 95% of all vehicles by 2015.
The company has partnered with waste management firm Sita to take control of Indra Investissement, a car dismantling specialist with a network of 200 facilities across France.
The two companies said they will invest EUR 100 million over the next five years developing takeback and recycling services that will allow the car maker to reduce the economic and environmental costs of acquiring raw materials, while reducing waste and preventing dangerous liquids from entering ground water.
The initiative is meant to bring Renault into line with new regulatory pressures imposed by the European Union, which boost from 85% to 95% the amount of a vehicle's mass that must be recyclable by 2015.
