Press Esc to close
Thursday 23 February 2017
News updated at 2:45 AM IST
Weather
Max: 34.5°C
Min : 19.3°C
In Bengaluru
clear sky

Volvo to invest Rs 2k cr in India

BANGALORE, Nov 15, 2012, DHNS :
Commercial vehicle major Volvo Group, on Thursday, announced plans to invest Rs 2,000 crore in India in the coming years, towards development of product portfolio, R&D, facility-building and machinery development among others.

Briefing reporters, Volvo Group President & Chief Executive Officer Olof Persson said the company has come out with a new India startegy, aiming to become the number one player in its segments.

As part of the strategy, he said, “We plan to improve customer-business relationship, exploring growth opportunities. We want to see where the business is growing fast, and capture the market to grow our business further.” The company is working on coming out with efficient transport solutions as well.

The company also plans to roll out more high-value premium trucks and buses in the country. “We plan to come out with a new value truck platform in the future, targeted at haulage, construction and mining industries. This product, which is for Asia, will be built at our Banglore facility, besides at our plants in Thailand and China,” Persson said.

Meanwhile, Volvo’s 50:50 joint venture with Eicher Motors — ‘VE Commercial Vehicles (VECV)’, will see Eicher’s portfolio is undergo massive modernisation, as the compny plans to take it global. An investment to the tune of Rs 1,800 crore is being planned in the coming years, to be financed within the JV. “The investment will be utilised towards the development of plant, paintshop and facility,” Persson added.

 

Go to Top

Photo Gallery
Fake notes of Rs 2000 which were dispensed by an SBI ATM in south Delhi...

Fake notes of Rs 2000 which were dispensed by an SBI ATM in south Delhi...

Chief Minister of Gujarat Vijay Rupani gives envelop to a newly married couple of Brahmin Community.

Chief Minister of Gujarat Vijay Rupani gives envelop to a newly married couple of Brahmin Community.

Tigers playing with each other in cage at Sarthana National Park (Surat) in Surat...

Tigers playing with each other in cage at Sarthana National Park (Surat) in Surat...

Akshar Yoga chain members performs stunts during the awareness programme on self defense ...

Akshar Yoga chain members performs stunts during the awareness programme on self defense ...

A speeding truck overturned at Atul Kataria Chowk in Gurugram on Wednesday. Two passengers...

A speeding truck overturned at Atul Kataria Chowk in Gurugram on Wednesday. Two passengers...

Bollywood actors Varun Dhawan and Aliya Bhatt during the promotion of their upcoming movie ...

Bollywood actors Varun Dhawan and Aliya Bhatt during the promotion of their upcoming movie ...

All India Agricultural University students participated 17th Agri Unifest procession...

All India Agricultural University students participated 17th Agri Unifest procession...

Election officers gather at a distribution centre to receive Electronic Voting Machines for their...

Election officers gather at a distribution centre to receive Electronic Voting Machines for their...

Polling officers receive polling material at a distribution center on the eve of fourth phase pol...

Polling officers receive polling material at a distribution center on the eve of fourth phase pol...

Polling officers collect election material before departing for their respective booths from a dis..

Polling officers collect election material before departing for their respective booths from a dis..

Like us on Facebook

Copyright 2017, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523