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Green Bean Battery acquired by LKQ Corporation

LKQ Corporation, a leading provider of alternative and specialty parts to repair and accessorize automobiles and other vehicles, this week announced that it has acquired the business and assets of Green Bean Battery, LLC (“Green Bean”).

 

Green Bean Battery acquired by LKQ Corporation p

Founded in 2016, Green Bean is a hybrid battery reconditioner and installer, which has developed a proprietary hybrid battery reconditioning process that creates a more reliable battery while Green Bean Battery acquired by LKQ Corporation lsimultaneously extending its useful life. Green Bean acquires hybrid battery cores from multiple sources, including LKQ, and reconditions them at its state-of-the-art facilities across eight trading zones located throughout the United States. As a full-service provider, Green Bean installs its reconditioned batteries at its customers’ preferred locations in each of these trading zones where LKQ operates today. Green Bean currently reconditions batteries for hybrid vehicles manufactured by Toyota, Honda, General Motors, Lexus, and Nissan.

Justin Jude, President of North America Wholesale Operations of LKQ, stated:

“This acquisition reinforces our ongoing commitment to expand our parts and services offerings to meet the demands and opportunities that arise from technological changes in the automobile industry. Battery reconditioning represents a natural extension of our current powertrain remanufacturing operations. In addition, Green Bean’s entrepreneurial history, proprietary technology and sustainably-focused products fit well with LKQ’s mission and culture, and we are proud to have them join our North American team.”

The terms of the transaction were not disclosed.

About LKQ Corporation

LKQ Corporation is a leading provider of alternative and specialty parts to repair and accessorize automobiles and other vehicles. LKQ has operations in North America, Europe and Taiwan. LKQ offers its customers a broad range of OE recycled and aftermarket parts, replacement systems, components, equipment, and services to repair and accessorize automobiles, trucks, and recreational and performance vehicles.

To find out more about LKQ Corporation, go to www.lkqcorp.com

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Owain Griffiths

Owain Griffiths

Head of Circular Economy at Volvo Cars

Owain joined Volvo Cars in June 2021 to lead Circular Economy in the Global Sustainability Team. The company has committed to being a circular business by 2040 and has financial, recycled content and CO2 based targets for 2025, all of which Owain is working across the company to make happen. Owain previously worked for circular economy consultancy Oakdene Hollins where he advised businesses on evidence led circular economy implementation. 

Turning into a circular business and the importance of vehicle reuse and recycling.

The presentation will cover the work Volvo Cars is doing to achieve 2025 but mainly focus on the transformational work towards 2040 and the business and value chain changes being considered. Attention will be paid to the way vehicles are being dealt with at the end of life and the complexities of closing material and component loops. Opportunities and challenges which Volvo Cars is facing will be presented including engagement with 3rd parties and increasing pressure from stakeholders.