Truck maker Volvo India plans to set up a fully-fledged engineering centre in Bangalore that will also carry out development work ‘outsourced’ from other countries.
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Volvo India officials told just-auto that the engineering research centre will play a major part in Volvo’s global plans and will be operational by early 2005.
The company had said earlier it plans to outsource more software development work to India from other countries. Volvo has a tie up with MindTree Consulting in India for such work.
Volvo India is also actively seeking markets for component exports and expects to ship around €23 million worth this year compared with €14 million in 2003.
This year company expects to record growth of between 50% and 100% in each of its business operations in India. This will be the strongest growth since it set up operations here in 1998.
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By GlobalDataVolvo competes in the high-end tractor-trailer and mining sectors in India, achieving market domination and strong growth in the last few years.
In 2003, Volvo sold 1,700 trucks and 300 buses for revenue of INR3.6 billion (€61 million). The construction machinery business sold 600 units of excavators, articulated haulers and other machines.
A restructure last year helped boost sales and Volvo India also introduced a new truck platform.
Deepesh Rathore / Tilak Swarup
