Chennai: Definitive agreements have been signed for the integration of Volvo Buses India business into VECV. They will cover the manufacture, assembly, distribution, and sale of the Volvo Buses in India, and other rights forming part of the business, said a company statement.
Consequently, the bus manufacturing facility at Hosakote, Bengaluru, and all employees of Volvo Bus India (VBI) will be transferred to VECV. Volvo Bus India is currently a division of Volvo Group India Private Limited (VGIPL).
Siddhartha Lal, chairman, VECV said, “with the integration of Volvo Buses India into VECV, we aim to shape the future of the Indian bus industry by offering the widest range of transport solutions to our customers.”
“We are pleased with this development of Volvo Buses in India and see it as an opportunity to further build upon the successful JV company – VECV”, said Håkan Agnevall, president of Volvo Bus Corporation.