Auto recycling project backed by Stellantis lands in WND

Oruid signs an agreement for its auto parts circular economy headquarters with WND. [Photo/WeChat account: xinwu_wx]

Oruid, a joint venture founded by Stellantis and Wuxi-based Miracle Group, signed an agreement on June 10 to build its headquarters for auto parts circular economy in Wuxi National Hi-Tech District, or WND.

The project includes a bonded automotive core components base, a lithium battery pack production base, and charging and battery-swapping systems.

The company aims to create a high-value, full-chain ecosystem for the recycling and reuse of automotive resources.

Laurence Hansen, senior vice-president of Stellantis, said Wuxi's strong industrial foundation and business-friendly environment were key factors behind the investment decision.

He said that Stellantis will accelerate project construction, integrate its technologies and industrial resources in the automotive circular economy sector, and work with Wuxi to expand both Chinese and international markets.

Hansen added that the company aims to build the project into a global benchmark, contributing to greener and more sustainable development of the industry.