Toyota, Suzuki to set up JV for vehicle recycling business in India

FILE PHOTO: A Toyota logo is displayed at the 89th Geneva International Motor Show in Geneva, Switzerland, March 5, 2019. REUTERS/Denis Balibouse/File Photo

Expanding their collaboration in the Indian market, Japanese automakers Suzuki Motor Corp and Toyota Motor Corp will foray into the vehicle dismantling and recycling business through their joint venture — Maruti Suzuki Toyotsu India Private Limited (MSTI).

The equal joint venture between Maruti Suzuki India Ltd, Suzuki’s Indian subsidiary, and Toyota Tsusho India Ltd, a subsidiary of Toyota Motor Corp, will set up the first vehicle dismantling unit in Noida with a capacity to handle 2000 vehicles per month. The joint venture will subsequently have similar scrapyards in different parts of the country.

The announcement from the Japanese behemoths comes at a time when the Ministry of Road Transport and Highways has started working on its policy for vehicle scrapping to reduce the number of old vehicles on Indian roads.

“Scrapping of older vehicles in a scientific and environment friendly manner will help reduce pollution and also make roads safer. A team of experts at MSTI will dismantle the vehicles using international technology and global standards,” he added.

MSTI will be responsible for procuring and dismantling end-of-life vehicles (ELV). The process will include complete solid and liquid waste management as per Indian laws and globally approved quality and environment standards, the companies said in a release.

“Toyota Tsusho has started ELV recycling since 1970`s 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 pan-India base with Maruti Suzuki,” said Naoji Saito, chief executive, metal division, Toyota Tsusho.

Mahindra and Mahindra was the first auto manufacturer to set up a vehicle recycling station in India.

This article was first published on livemint.com.

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In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.