Honda Cars India signs agreement with MSTI to offer Environment Friendly Vehicle Scrapping Solution to its customers

New Initiative to serve its customers for their End of Life Vehicles (ELVs)

New Delhi, November 28^th, 2022: Honda Cars India Ltd. (HCIL), leading manufacturer of premium cars in India, today announced that it has signed an agreement with Maruti Suzuki Toyotsu India Private Limited (MSTI) to offer its customers, an end-to-end solution for scrapping their End of Life Vehicles (ELVs). Customers can get their older vehicles scrapped in a scientific and environment friendly manner. With this tie-up, HCIL strives to assist its customers get the best value of their ELVs and facilitating hassle-free deregistration and issue of Certificate of Deposit/ Destruction through its dealer partners.

MSTI is a government-approved ELV scrapping and recycling company which is setting up modern ELV scrap and recycling centres in the country. The service alliance will begin in Delhi NCR, Haryana and Uttar Pradesh. The coverage area will expand with addition of new scrappage centres by MSTI in future.

Speaking on the new customer initiative, Mr Takuya Tsumura, President & CEO, Honda Cars India Ltd, said, “The Vehicle Scrappage Policy by Government of India stipulates scrappage and deregistration of old vehicles to promote phasing out of unfit vehicles from the roads, improve safety and lowering of carbon footprint in India. We are pleased to offer a one stop solution to our customers through our dealers, to scrap their old cars in a systematic and environmentally friendly manner. With this association, Honda Cars India intends to go beyond while serving and delighting our customers.”

Further, Mr Masaru Akaishi, Managing Director, Maruti Suzuki Toyotsu India Private Limited (MSTI), said, “Today we are pleased to announce our collaboration with Honda Cars India Limited. MSTI will continue to contribute to the improvement of India’s environment by providing environment friendly ELV dismantling services.”

As part of the tie-up, HCIL dealership along with MSTI will offer the customers:

1. Vehicle Evaluation

2. Arrange quote for scrappage value of the vehicle

3. Provide end to end services including vehicle pick-up, transportation and dismantling at MSTI scrap and recycling centre

4. Issue of Certificate of Deposit/ Destruction from MSTI.

The Certificate of Deposit/ Destruction will enable customers claim eligible benefits under Vehicle Scrappage Policy notified by Government of India and adopted by various State Governments. The customer will also have additional peace of mind and assurance that their old vehicle cannot be misused and therefore no legal liability or hassle afterwards.

This collaboration marks a key milestone in Honda Cars India's commitment to green mobility, providing a circular ecosystem for End of Life Vehicles through safer and more environmentfriendly disassembly and scrapping.