India, Nov. 6 -- Maruti Suzuki and Toyota Tsusho Group on Wednesday announced a joint venture for vehicle dismantling and recycling.
In the joint venture -- Maruti Suzuki Toyotsu India Pvt Ltd (MSTI) -- Maruti Suzuki India (MSI) will have 50 per cent share, while Toyota Tsusho Group companies -- Toyota Tsusho Corporation and Toyota Tsusho India Pvt Ltd -- will hold the remaining stake.
MSTI will set up its vehicle dismantling and recycling unit in Noida, Uttar Pradesh within 2020-21 and will add more such units across India, the companies said in a statement.
It 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 ...