Eicher-Volvo JV to invest USD223.1 mil. in India by 2014
Indian partner will launch Eicher-branded trucks, developed using the Swedish firm's technology for cabins, engines, and other drivelines
Indian vehicle manufacturer Eicher Motors and Sweden's Volvo plan to invest 12 billion Indian rupees (USD223.1 million) in their 50:50 Indian joint-venture (JV), VE Commercial Vehicles Ltd (VECV), by 2014 for expanding production capacity and developing new products, reports the Press Trust of India. Meanwhile, the Indian partner will launch Eicher-branded trucks, developed using the Swedish firm's technology for cabins, engines, and other drivelines – by the end of this year. The planned expansion will be carried out at VECV's existing plant at Pithampur in the Indian state of Madhya Pradesh.
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