Suzuki, Toyota Tsusho set up car recycling joint venture in India
NEW DELHI, NNA - Suzuki Motor Corp. and Toyota Tsusho Corp. have announced the establishment of a dismantling and recycling joint venture in India, to handle the rapidly growing number of scrap vehicles.
Suzuki said in a statement Wednesday that Maruti Suzuki India Ltd., its Indian subsidiary and the nation's top automaker, and the Toyota Tsusho group, a trading arm of the Toyota Motor Corp. group, set up the 50-50 joint venture in Noida, in the northern state of Uttar Pradesh.
Maruti Suzuki Toyotsu India Private Ltd. will start operations in the next fiscal year beginning April 2020, Suzuki said, adding the joint venture aims to handle 2,000 vehicles per month.
It will be the first such recycling plant opened by a Japanese carmaker operating in India, a Toyota Tsusho spokeswoman told NNA on Wednesday.
The plant will procure vehicles through Maruti Suzuki dealers and individual owners, and sell them to steelworks after scrapping them according to local environmental standards, the spokeswoman added. (NNA/Kyodo)