Maruti Suzuki and Toyota Tsusho Group, today announced setting up of a vehicle dismantling and recycling joint venture, Maruti Suzuki Toyotsu India Private Limited (MSTI). The joint venture is between Maruti Suzuki India Limited (MSIL) and Toyota Tsusho Group (Toyota Tsusho Corporation (TTC) and Toyota Tsusho India Private Limited (TTIPL)) with each owning a 50 per cent equity. Headquartered in New Delhi, Maruti Suzuki Toyotsu India Private Limited (MSTI) is established to set up its vehicle dismantling and recycling unit in Noida, Uttar Pradesh within 2020-21. MSTI 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 approved quality and environment standards.