SustainabilityOnline Trading Platform for End of Life Vehicle Owners launched in Delhi...

Online Trading Platform for End of Life Vehicle Owners launched in Delhi at MMCM’s Automotive Circularity Event

National –Meta Materials Circular Markets (MMCM) celebrated a momentous event at The Theatre, IHC, New Delhi, on Monday, December 18th, 2023. The occasion marked the official launch of DigiELV, a Ministry of Road Transport and Highways (MoRTH) authorized End of Life Vehicle Certificate of Deposit (CD) Trading platform, and Automotive Circularity Orchestrator, in the esteemed presence of Shri Nitin Gadkari, Hon’ble Minister of Road, Transport and Highways.

Addressing the significant environmental impact of the transport sector, Mr. Nitin Chitkara, CEO of MMCM, commented, “Our solutions, DigiELV and the Automotive Circularity Orchestrator, aim to revolutionize the automotive industry by promoting sustainability and addressing the pressing issue of automotive pollution., Further he added that there was no standard scrapping facility available after introduction of this cars will be properly scrapped. He addressed that consumers will be benefited by receiving a certificate from the facility this is recognized by government as well moreover whenever the consumer is buying new car he can use the certificates to avail discount on road tax, and registration fees

Hon’ble Minister Shri Nitin Gadkari emphasized the environmental benefits of such initiatives, stating, “The launch of platforms like DigiELV and Automotive Circularity Orchestrator aligns with our commitment to reducing pollution and moving towards sustainable mobility“ He emphasized on moving ahead with 3 E concept – Ecology , Environment-Economics. He also added that using the scraping policy extensively will ll be a great boon to the economy but reduce environmental pollution approx 20- 25%”

The launch event was a response to India’s commitment to reducing greenhouse gas emissions from the transport sector. “Around 8% of India’s total GHG emissions come from the transport sector, and in Delhi, it exceeds 30%. The 2021 Vehicle Scrappage Policy is a crucial step toward systematically phasing out unfit cars and promoting technologically advanced vehicles to reduce pollution,” added Mr. Chitkara.

DigiELV, in its beta phase over the last three months, facilitated the trade of more than 800 certificates, directly benefiting End of Life Vehicle Owners. This platform, authorized by MoRTH, empowers users to lawfully trade Certificates of Deposit, promoting transparency and ensuring sustainable efforts of ELV owners are rewarded..

MMCM’s Automotive Circularity Orchestrator addresses global environmental concerns by fostering collaboration for eco-friendly alternatives. The orchestrator connects consumers, manufacturers, and recyclers to promote sustainability, facilitating seamless data and material exchanges for an integrated, sustainable future.

The event, organized by MMCM in collaboration with the Material Recycling Association of India (MRAI) and Policy Times Chamber of Commerce (PTCC), aimed to bring together key stakeholders to discuss DigiELV, the End of Life Vehicle (ELV) Policy, Certificate of Deposits (CD), CD Trading, lawful ELV scrapping, the need for material traceability and carbon emission reduction through disposal of ELV waste.

This launch event contributes to spreading awareness about the Vehicle Modernization Program, Certificate of Deposit (CD) trading on DigiELV, and the role of the Auto Circularity Orchestrator in championing environmental sustainability. The MMCM event serves as a catalyst for informed discussions and collaborations to drive the automotive industry towards a sustainable and environmentally responsible future. MMCM also launched an education series for the public on benefits of Vehicle Scrapping during the program.

For further information, please contact: Bubble Communication
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