Press Esc to close
Thursday 27 November 2014
News updated at 3:51 PM IST
Weather
Max: 0°C
Min : 0°C
In Bengaluru
Sunny day

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
It is business as usual in Leopold Cafe on the eve of the anniversary ...

It is business as usual in Leopold Cafe on the eve of the anniversary ...

England's captain Alastair Cook (R) talks with his teammate Ravi Bopara...

England's captain Alastair Cook (R) talks with his teammate Ravi Bopara...

Models pose with a car during the inauguration of the Lamborghini showroom...

Models pose with a car during the inauguration of the Lamborghini showroom...

Women from the Delhi police force, undergo martial arts training...

Women from the Delhi police force, undergo martial arts training...

Indian tennis player Sania Mirza blows whistle to joins campaign...

Indian tennis player Sania Mirza blows whistle to joins campaign...

Children rights activist Baburaj, Good Sheperd High School headmistress ...

Children rights activist Baburaj, Good Sheperd High School headmistress ...

A Sun Bird sits on a branch of Jacaranda flower tree...

A Sun Bird sits on a branch of Jacaranda flower tree...

BJP MP'S meeting in Parliament house...

BJP MP'S meeting in Parliament house...

Bipasha Basu and Milind Soman at Pinkathon announcement

Bipasha Basu and Milind Soman at Pinkathon announcement

Modi with BJP leaders at an election rally in Jharkhand

Modi with BJP leaders at an election rally in Jharkhand

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523