Volvo will invest Rs 80 crore in the proposed joint venture company, Volvo Bus Corporation Director Akash Passey told reporters at the ongoing Ninth Auto Expo being held here.
Plant capacity
Volvo India will tie up with Karnataka-based Jaico Automobiles to form the joint venture company —Volvo Bus Body Technologies India Private Limited, he said.
The company would have a manufacturing capacity of 1,000 buses per year and cater to both Indian and foreign markets, Mr Passey said.
According to Mr Passey the company will manufacture mainly luxury coaches as per customers’ specification. Volvo has made an investment of Rs 300 crore in the Hosakote plant since commencement of its operations in India in 1998.
