New Delhi: Eicher Motors, which has a 50:50 joint venture with Volvo for trucks and buses (VECV), Monday announced that the JV plans to set up a new greenfield truck manufacturing plant at an investment of Rs 400 crore in Bhopal.
“The Madhya Pradesh government has allotted land for the new plant and work to set up this plant is expected to start soon. The target is to go on stream with this plant in the next 18 months at an investment of around Rs 400 crore and an initial capacity of 40,000 trucks, in addition to the capacity of 90,000 trucks at Pithampur, near Indore,” Eicher Motors said.
Volvo Group and Eicher Motors are commemorating the completion of 10 years of partnership. President OF Volvo Group Trucks Asia and JVs and chairman, VECV, Håkan Karlsson, said, “With the announcement of setting up of a new plant at an investment of Rs 400 crore, we have full confidence in the growth potential in the Indian market and with technologically superior products, VECV is in an advantageous position to fully leverage the opportunities in the market.”