Maruti & Toyota Tsusho to set up vehicle scrappage plant

According to a media report, Maruti Suzuki and Toyota Tsusho India plan to set up a vehicle scrappage plant in India.

The joint venture company will supply, dismantle and process old vehicles at this plant. The company will also market and sell scrap and other products generated at its plant.

Toyota Tsusho India is a Toyota subsidiary that manufactures and trades in auto components. The company is also involved in steel shearing and processing, import and export of auto components and logistics management.

Mahindra has also partnered with MSTC to set up a similar recycling business in Greater Noida.

Source: Economic Times