Maruti Suzuki India and Toyota Tsusho will set up the first unit to procure and dismantle End-of-Life Vehicles in Noida.
Image for Representation
(Photo: Arjit Garg/News18.com)
Maruti Suzuki and Toyota Tsusho Group, today announced setting up of a vehicle dismantling and recycling joint venture, Maruti Suzuki Toyotsu India Private Limited (MSTI). The joint venture is between Maruti Suzuki India Limited (MSIL) and Toyota Tsusho Group (Toyota Tsusho Corporation (TTC) and Toyota Tsusho India Private Limited (TTIPL)) with each owning a 50 per cent equity. Headquartered in New Delhi, Maruti Suzuki Toyotsu India Private Limited (MSTI) is established to set up its vehicle dismantling and recycling unit in Noida, Uttar Pradesh within 2020-21. MSTI will be responsible to procure and dismantle End-of-Life Vehicles (ELVs). The process will include complete solid and liquid waste management as per the Indian laws and globally approved quality and environment standards.
The facility in Noida will be the first unit by MSTI and the JV will add more such units across India. The unit will have an initial capacity to dismantle around 2,000 vehicles per month. MSTI will source vehicles from dealers as well as directly from customers. Announcing the initiative Kenichi Ayukawa, Managing Director & CEO, Maruti Suzuki India Limited, said, “Maruti Suzuki strongly believes in responsible recycling of vehicles after the end of its useful life. Through this Joint Venture, MSTI, we aim to promote recycling and support in resource optimization and
Sourse: www.news18.com
