Toyota sets up recycling network in Europe - report
NEW YORK - Japan\'s Toyota Motor Corp has begun building a network in Europe to collect used cars to prepare for obligatory regulations involving scrapped car recycling planned for 2007, a Japanese business daily said.
The Japanese auto giant has already set up over a combined 560 recycling sites in four European countries including Germany and Holland, the Tuesday online edition of The Nihon Keizai Shimbun (Nikkei) reported.
Toyota is considering using the recycling network of German automaker Volkswagen AG, and hopes to lighten up costs of an estimated 10 billion yen ($84 million) per year in collecting used cars in Europe, Nikkei said.
A Toyota official in New York declined to comment on the report.
REUTERS NEWS SERVICE
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