your password has been reset successfully, Please login again.

Toyota Tsusho Group and Maruti Suzuki To Set Up its First Vehicle Dismantling and Recycling Joint Venture Unit in India

The joint venture, Maruti Suzuki Toyotsu India Private Limited (MSTI), is formed between Maruti Suzuki India Limited (MSIL) and Toyota Tsusho India Private Limited (TTIPL) and Toyota Tsusho Group, each firm holding a 50 per cent equity, according to the company’s official statement.
BY Ritu Marya
Editor in Chief, Editorial
Nov 07,2019

Automobile companies, Maruti Suzuki and Toyota Tsusho Group have recently proclaimed to establish its foremost vehicle dismantling and recycling joint venture.

The joint venture, Maruti Suzuki Toyotsu India Private Limited (MSTI), is formed between Maruti Suzuki India Limited (MSIL) and Toyota Tsusho India Private Limited (TTIPL) and Toyota Tsusho Group, each firm holding a 50 per cent equity, according to the company’s official statement.  

MSTI is based in New Delhi and would be establishing its vehicle dismantling and recycling plant in Noida, Uttar Pradesh by next year.

The automobile firms have formed a joint venture when the Indian government is working on Vehicle Scrappage Policy. Recently, the Transport Ministry issued a draft for initiating a vehicle scrappage facility in a bid to sanction the industry in the country, reported Bloomberg Quint. 

"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 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,"Mr. Kenichi Ayukawa, Managing Director & CEO, Maruti Suzuki India Limited, said in the company’s statement. 

A Move to Initiate ELV Recycling  

 

MSTI will be primarily looking after procuring and dismantling End-of-Life Vehicles (ELVs). The process will encompass an entire solid, as well as liquid waste management, as per the Indian laws and other environment and global standards.   

Its first unit will set up in Noida and later, the company will spread across the nation. The Noida-based plant will have a primary capacity to dismantle nearly 2,000 vehicles per month. The joint venture will directly obtain vehicles from dealers and customers. 

"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," Mr. Naoji Saito, CEO (Metal Division), Toyota Tsusho Corporation said in its company’s statement. 

An arm of Suzuki Motor Corporation, Maruti Suzuki India Limited, is the Japenese automobile firm, which is based in India. The company has two manufacturing units in India--Gurugram and Manesar in Haryana, with an aggregate annual production capacity of nearly 1.58 million units. It renders a wide spectrum of automobiles across different spheres.  

Toyota Tsusho runs a long development business & with modified facilities to the customers’ requirements. Further, the company offers facilities with original added value by increasing its project management firm roles and general trading. It engages in the development, as well as an investment business, working along with partners across the globe to enhance investments in the segments in which growth is anticipated. 

 



Please add your Comment
SIMILAR Articles
January 20, 2020
In the East Coast, Adani Ports and Special Economic Zone Ltd holds several ports viz. Vizag, Kattupa ...More
By Jaspreet Kaur
January 14, 2020
In recent times, financial technology has enticed several investors and in turn, aspiring entreprene ...More
By Jaspreet Kaur
January 10, 2020
Aspiring businessmen who are planning to venture in business sphere, have oodles of choices this yea ...More
By Jaspreet Kaur
January 06, 2020
Microfinance startup, Satin Creditcare Network Ltd (SCNL) has lately received External Commercial Bo ...More
By Jaspreet Kaur
December 27, 2019
The company’s demise was a gradual process, which began with the sale of its physical stores. ...More
By Jaspreet Kaur
December 23, 2019
Salesforce has separately inked Memorandums of Understanding (MoU) along with Telangana Academy for ...More
By Jaspreet Kaur
December 22, 2019
In the vast Indian economy, Micro, Small and Medium Enterprises (MSMEs) has played an important role ...More
By Jaspreet Kaur
December 20, 2019
In the pre-Budget meeting with the Finance Minister, the Indian industrialists raised various issues ...More
By Jaspreet Kaur
December 17, 2019
Some of the renowned startups which have garnered large cheques are Druva, a data protection company ...More
By Jaspreet Kaur
December 07, 2019
Addressing pain points of a small business, Punjab government has decided to render financial access ...More
By Jaspreet Kaur
December 04, 2019
Kratikal will be employing gathered fund to streamline product deployment and development. ...More
By Jaspreet Kaur
December 03, 2019
Thomas Cook India lately proclaimed that it has inked an agreement with Thomas Cook UK’s special man ...More
By Jaspreet Kaur