Sweden’s Volvo to invest in India
Volvo is a Swedish truck, bus and earth-moving equipment maker. Volvo is the world’s 2nd largest truck maker by revenue.
Volvo declared its plans to invest R s 3,800 Crore in India in next few years. Of this amount, it will be investing Rs 1,800 Crore in a joint venture with Eicher Motors. Volvo and Eicher have a 50:50 joint venture VE Commercial Vehicles which sells Volvo brand of trucks and Eicher brand of trucks and buses.
In India, Volvo has a good presence in Bus segment.
Eicher is a commercial vehicle manufacturer in India.
Categories: Economy & Banking Current Affairs