INDIA: Volvo Eicher spending US$53m on plant expansion
Volvo Eicher Commercial Vehicles (VECV) is planning to spend INR2.88bn (US$53m) at its Pithampur plant in Madhya Pradesh to expand and increase production capacity.
Expansion will make room for manufacture and assembly of the new medium duty engine which will be offered in Volvo trucks and buses worldwide, the Economic Times reported, citing VECV CEO Vinod Aggarwal.
Engine production capacity will be increased from 60,000 now to 160,000 units by 2016-17.
New to QUBE in the last quarter, this report has been extracted from QUBE and provides a comprehensive overview of the global light vehicle Engine technologies sector, major suppliers, top markets, te...
Commercial Vehicle Group's Indian unit, CVG Seating (India) has acquired seat assembly assets of Vijayjyot Seats which has three leased facilities in the Baska (State of Gujarat), Pune (State of Mahar...
Volvo Car is testing a new fast-charger for electric cars that cuts recharging time to 1.5 hours....
Volvo Car Corporation has reported a fall of almost 6% in retail sales in the first 10 months of the year although it added that the decline is levelling off....
MAN, the Munich-based truck maker majority owned by Volkswagen, has joined rivals, including Volvo and Daimler, in predicting that Europe's truck market will stagnate next year....
Volvo, the world's second largest truck maker behind Daimler, reported operating profits down to SEK2.9bn (US$433m) from SEK5.8bn a year ago as third-quarter orders fell 25%. The company, which makes ...
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