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videos | IST

Maruti Suzuki, Toyota unit form joint venture for auto scrappage

The auto industry has had a longstanding demand from the government – enacting the vehicle scrappage policy. Over the years, it has seen consultations, deadlocks and many changes, but now as the government is in the final stages of formulating it, CNBC-TV18 has learnt that Maruti Suzuki has made investments in auto scrapping technology in partnership with Toyota.
While the vehicle scrapping policy has been a debate between the government and the industry for the last five years, both sides now seem to agree that the time to implement the policy is now.
Sources in Maruti Suzuki have told CNBC-TV18 that the company has an investment in developing vehicle scrapping technology in partnership with a Japanese company.
Maruti Suzuki chairman RC Bhargave told CNBC-TV18 that they’re interested in learning the technology of recovering end of life vehicles, and that the project is not large scale at the moment.