Peugeot Citroën buys auto parts recycling startup from Porto

The PSA Group, which will soon become the fourth world's largest car manufacturing company announced the purchase of a Porto based startup in the area of auto parts recycling. The company "Amanhã Portugal", alongside its e-commerce platform and B-Parts.com was acquired by the French PSA Group. 

B-Parts, as read in its official site, "is a leading company in the online distribution of used car parts". These parts come from damaged or broken vehicles and the spare parts are commercially attractive and ready to be used in other vehicles; they are all original and are guaranteed, as clarified by the startup from Porto.

The "Amanhã Global" maintains its production centre in the city of Mangualde and both directors considered that this acquisition by the PSA Group is highly beneficial; Manuel Araújo Monteiro and Luís Sousa Vieira, cited by Lusa, affirmed that "PSA is now the first manufacturer to position itself in the used spare car parts and B-Parts is granted an unique opportunity to access the vast client portfolio by PSA".

Acquiring a majority stake in the company's capital is for the French group part of the company's change in the business model of its subsidiary PSA Aftermarket, which is now geared to provide used car spare parts "that fit all budgets, in markets all around the world".

In this regard, the PSA Group highlights the Porto based startup as a "major player in the circular economy, a European leader in used car parts".

The French group also believes that this business strategy will reduce the industry's environmental impact, namely the ecological footprint, as the reused parts mean that there is a 100% gain in raw material when compared to the production of new spares.

PSA, which is a manufacturer for Peugeot, Citroën and Opel, is preparing a merger project with the Fiat Chrysler Automobiles group. This project should be completed in the first quarter of 2021, which will make PSA the fourth largest car manufacturer in the world, with synergies estimated at 3.7 billion euros per year.