VE commercial vehicles to invest Rs 1,000 crore in 3 years

Posted in : News

(added few years ago!)

VE Commercial Vehicles, an equal joint venture between the Volvo Group and Eicher Motors which has been in operation since 2008 is trying to up the game in India and has now lined up an investment of Rs 1,000 crore over the next three years for its various projects which include a bus body building plant as well as further investments in its engine plant.

The report quoted VE Commercial's Chief Executive Officer, Vinod Aggarwal said "The bus body building plant will involve an investment of Rs 125 crore and will be commissioned in 2013. The engine plant, for which Rs 288 crore has been earmarked, is coming up in Pithampur, in Dhar district of Madhya Pradesh. At present, the body building is outsourced, and the new plant which is expected to be commissioned in 2013 will add to the overall capacity,. The new plant will have a total capacity of 10,000 units a year once it is fully operational. Last year, 7,000 units of bus bodies were supplied. All the buses are between 22-seater and 69-seater capacity and sold under the Eicher brand name."

The Pithampur plant is being commissioned this year and will be involved in the production and final assembly of Volvo group's new global medium duty engine platform. It will be the global hub for producing these engines which go into Volvo group's trucks and buses worldwide. Also, these engines will be used for Eicher's heavy duty commercial vehicles.

At present, the existing Pithapur plant produces about 40,000 engines a year and the new investment will add another 85,000 engines. The new engines will cater to all markets which have Euro 3 and 4 emission requirements. Aggarwal said "The company has recently bagged an order for 400 heavy duty bus chassis from the Andhra Pradesh State Transport Company. He said the engine, as well as the bus body building plants will help the company bid for larger orders from various State transport corporations."

Tags : VE, commercial vehicles, Dhar, Pithampur, Madhya Pradesh

Related Posts

» Mercedes Benz Maybach S600 Guard launched in India at Rs. 10.50 Crore

» Ferrari has launched 458 GTB in India at Rs. 3.88 crore

» Mercedes AMG GT S launched in India at Rs. 2.40 crore

» Lamborghini Huracan LP580-2 Launched in India at Rs. 2.99 crore

» Toyota Land Cruiser 200 launched in India at Rs. 1.29 crore

» Land Rover Range Rover Sport SVR launched in India at Rs. 2.12 crore

» BMW M6 Gran Coupe launched in India at Rs. 1.71 crore

» Mercedes Benz AMG C63 launched in India at Rs. 1.30 crore

(added few years ago!) / 1302 views
Search this blog..

Top Stories of the week

Existing Users Login
User ID  
Password  
 
 
Join Now / Forgot Password

also you can..
Login with Facebook