New Delhi, Sep 19 (UNI) The country's largest carmaker Maruti Suzuki does not seem to be in a hurry to commit investment in view of Rs 25,938 crore production-linked incentive (PLI) scheme and would take a call after looking at all the circumstances.

"We will have to take our own decisions looking at all the circumstances including this scheme. Certainly this scheme will give lowering of cost," RC Bhargava, chairman of Maruti Suzuki India told UNI when asked if the company would hasten the green vehicle plan.

The bureaucrat-turned-industry veteran said that the PLI scheme is not for the entire automobile industry as such.

"It is a scheme to encourage local production of components and products which till today are not in existence in India," he said over phone.

"The ICE (internal combustion engine) which you are talking about is an old established technology. This industry has been growing and expanding all these years. Why does it require PLI then?" he added.

Bhargava noted that the PLI scheme is for the new technology and not for the general growth of the industry.

Maruti Suzuki has been the leading growth driver for the car industry in India and every second car sold in the country is from the stable of the auto behemoth.

The government this week launched a Rs 25,938 crore PLI scheme for the auto and auto component industry. Based on total sales generated by a company, the incentives go up to 18 per cent of the turnover for Champion OEMs and new non-auto investors.

The incentives would be offered for five years.

The PLI scheme has two components viz Champion OEM Incentive Scheme and Component Champion Incentive Scheme. The Champion OEM Incentive scheme is a ‘sales value linked’ scheme, applicable on battery electric vehicles and hydrogen fuel cell vehicles of all segments.

The Component Champion Incentive scheme is a ‘sales value linked’ scheme, applicable on advanced automotive technology components of vehicles, completely knocked down (CKD)/semi knocked down (SKD) kits, vehicle aggregates of 2-Wheelers, 3-Wheelers, passenger vehicles, commercial vehicles and tractors.

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