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Eicher Motors’ JV firm plans to spend Rs 1,200 crore by 2014

21 Jan 2013 Evaluate

VE Commercial Vehicles (VECV), a joint venture between Sweden's Volvo Group and homegrown Eicher Motors, is planning to spend Rs 1,200 crore by 2014 for expanding production capacity and developing new products. Meanwhile, the Indian partner will be introducing Eicher branded trucks, developed using technology of the Swedish firm by the end of this year.

From the beginning of the JV till 2012-end, the company has invested Rs 1,300 crore and will invest another Rs 1,200 crore on ongoing projects like engine plant, bus body plant, new products and further capacity increase in 2013 and 2014 to meet the requirement for 2015.

VECV began operations in July 2008 and its business includes the complete range of Eicher trucks and buses, VE Powertrain, Eicher's components and engineering design services businesses as well as the sales and distribution business of Volvo trucks within India.

Eicher Motors Share Price

7296.10 -33.45 (-0.46%)
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