Eicher Motors Ltd.

Eicher Motors and Volvo Group’s 50:50 joint venture firm, VE Commercial Vehicles (VECV) is planning to hike prices of trucks with immediate effect. It is likely to take this decision considering the current economic scenario, depreciation of the rupee and increased costs.

The company had invested Rs 375 crore for establishing a manufacturing capacity at Pithampur near Indore, with 25,000 engines, and with another investment of Rs 125 crore, would be scalable to a total capacity of one lakh engines.