Maruti Suzuki to set up a vehicle dismantling and recycling unit

Maruti Suzuki and Toyota Tsusho Group have come together to set up Maruti Suzuki Toyotsu India Private Limited (MSTI), a 'one of its kind' vehicle dismantling and recycling joint venture. Both the parties, that is Maruti Suzuki India Limited (MSIL) and Toyota Tsusho Group (Toyota Tsusho Corporation (TTC) and Toyota Tsusho India Private Limited (TTIPL)), own a 50 per cent equity in this joint venture.

Headquartered in New Delhi, MSTI will set up its vehicle dismantling and recycling unit in Noida, Uttar Pradesh during the period of 2020-21.

MSTI will be responsible to procure and dismantle End-of-Life Vehicles (ELVs). The process will include end-to-end management of solid and liquid waste as per the Indian laws and regulations and globally approved quality and environment standards.

The Noida facility will be the first unit by MSTI and the JV will add more such units across India in future. The unit will have an initial capacity to dismantle around 2,000 vehicles per month. MSTI will source vehicles from dealers and directly from customers.

Maruti Suzuki India Limited, a subsidiary of Suzuki Motor Corporation (SMC), Japan, is a leading passenger vehicle maker in India. In terms of production volume and sales, the company is now SMC's largest subsidiary. Toyota Tsusho Group is engaged in the manufacturing, processing, and sale of various products. It also deals in the investment of the related products and the provision of services.

On Wednesday, the stock of Maruti Suzuki opened at Rs. 7,399. In the early morning session, it touched Rs. 7,411.55 but later dipped 1.1 per cent to Rs. 7,301.15.