Maruti Suzuki India and Toyota Tsusho Group have announced setting up a new vehicle dismantling and recycling unit. The new joint venture, christened Maruti Suzuki Toyotsu India Private Limited (MSTI), which will set up the new unit, will be owned by the two companies with 50-50 per cent equity. Headquartered in New Delhi, the new dismantling and recycling unit will come up in Noida, Uttar Pradesh between the 2020-21 financial year. The company will procure and dismantle End-of-Life Vehicles (ELVs) and the process will include complete solid and liquid waste management as per the Indian laws and globally approved quality and environment standards.
Announcing the initiative Kenichi Ayukawa, Managing Director & CEO, Maruti Suzuki India Limited, said, "Maruti Suzuki strongly believes in responsible recycling of vehicles after end of its useful life. Through this Joint Venture, MSTI, we aim to promote recycling and support in resource optimization and conservation while using environment-friendly systems and processes. The 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."
Naoji Saito, CEO (Metal Division), Toyota Tsusho Corporation said, "Toyota Tsusho has started ELV recycling since the 1970s in Japan. We believe that we will be able to contribute to Indian society through our knowledge and experience for ELV business. The first vehicle dismantling and recycling unit of MSTI is just the initial step and we are eager to expand to the pan-India base with Maruti Suzuki."
Maruti Suzuki Toyotsu India Private Limited has announced the facility in Noida will be the first of the many upcoming units across India. The unit will have an initial capacity to dismantle around 2,000 vehicles per month and MSTI will source vehicles from dealers as well as directly from customers.