India markets closed

Toyota, Suzuki to Form JV for Vehicle Recycling Business in India

Maruti Suzuki and Toyota are expanding their partnership in the Indian market, by venturing into the vehicle dismantling and recycling business. The two companies have announced a joint venture called Maruti Suzuki Toyotsu India Private Limited (MSTI), which will start operations from FY 2020-21. Both companies will each own a 50 percent equity.

The first recycling and dismantling unit will be set up in Noida, with a capacity of 2,000 vehicles per month.  

Maruti Suzuki India Managing Director and CEO, Kenichi Ayukawa, when announcing the venture, said that end-of-life vehicles (ELVs) will now be dismantled in an environment friendly manner.

MSTI will allow customers to dispose off their vehicles through an authorised dismantler. Customers will also get a certificate of destruction, to be used for de-registration at the RTO.

“We aim to promote recycling and support in resource optimization and conservation while using environment friendly systems and processes,” Ayukawa said.

“Scrapping of older vehicles in a scientific and environment friendly manner will help to reduce pollution and also make the roads safer. A team of experts at MSTI will dismantle the vehicles using international technology and global standards,” he added.

Also Read: Maruti Suzuki, Mahindra & Toyota Report Improved Sales in October

. Read more on Car and Bike by The Quint.RSS & BJP’s Nehru-Netaji ‘Cosplay’: Irony Dies a Thousand DeathsMicrosoft’s Chromium Based Browser Will Rival Chrome & Firefox . Read more on Car and Bike by The Quint.