Maruti Suzuki and Toyota Tsusho to Set Up Vehicle Dismantling Unit
Maruti Suzuki and Toyota Tsusho Group announced setting up one-of-its-kind vehicle dismantling and recycling joint venture, Maruti Suzuki Toyotsu India Private Limited (MSTI). The joint venture named Maruti Suzuki Toyotsu India Pvt Ltd (MSTI) will have both the companies holding 50% share each, further strengthening the relationship between the two.
The new venture’s first vehicle dismantling and recycling unit is planned to be set up in Noida, Uttar Pradesh, within 2020-21 which will be followed by other facilities on similar lines across the country.
The facility in Noida will be the first unit by MSTI and the JV will add more such units across India. The unit will have an initial capacity to dismantle around 2,000 vehicles per month.MSTI will source vehicles from dealers as well as directly from customers.
Maruti Suzuki has two state-of-the-art manufacturing facilities located in Gurugram and Manesar in Haryana, with a combined annual production capacity of ~1.58 million units pa. Suzuki Motor Gujarat Private Limited (SMG), a subsidiary of SMC, was set up in Hansalpur, Gujarat to cater to the increasing market demand for the Company's products. Through this new facility, an additional annual production capacity of 0.5 million units has been made available, thereby taking the combined production capacity to over two million vehicles.
Towards Jul'19, Ministry of Road Transport and Highways (MoRTH) proposed a draft notification for scrappage of vehicles older than 15 years. It proposes to provide benefits ranging up to INR 40,000 on new purchases after scrappage of the old vehicle of a similar category.
source: SteelMint
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