Maruti Suzuki India Ltd which controls ~50% market in passenger vehicles in India will invest in new technologies to cut down emission of carbon dioxide per vehicle. The company has said that it will try to align with more stricter EU norms for its cars in India.
Why is this important
The company has started focusing to make its vehicle more environment friendly which is the need of the hour with the advent of EV’s which are more environment friendly then the conventional passenger vehicles.
The company also claims to have reduced carbon emissions by 8.3 lakh tonnes over the last decade by introducing CNG, LPG and smart hybrid vehicles.
Stock to be impacted
The news is favorable for Maruti Suzuki India Ltd (CMP: Rs 8810, M.cap: Rs 266143 cr, 22x FY20E PE).