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.
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.
“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.
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