New Delhi: VE Commercial Automobiles Restricted (VECV), an unlisted subsidiary of Eicher Motors is collaborating with Volvo Buses with an intention to offer widest range of general public transport options below Volvo and Eicher models.
The definitive agreements signed amongst the two providers will deal with the manufacturing, assembling, distribution and sale of Volvo Buses India (VBI) and other rights forming part of the enterprise.
Speaking on the announcement, Siddhartha Lal, Chairman, VECV claimed, “This is a momentous occasion and testimony to a very powerful partnership amongst Eicher Motors and Volvo Group. More than a time period of time, the Volvo model for buses in India has turn into synonymous with security and convenience in both of those inter-city and intra-city general public transportation, and we are incredibly proud to have this iconic model in our joint venture.”
He further more mentioned that with the integration of Volvo Buses India into VECV, the firm aims to shape the potential of the Indian bus market by presenting the widest range of transport options to the clients.
According to VECV, the bus manufacturing facility at Hosakote, Bengaluru, and all staff of Volvo Bus India (VBI) will be transferred to VECV. Volvo Bus India is presently a division of Volvo Group India Personal Restricted (VGIPL).
Publish the completion of the transaction, VECV and VBI will consolidate their bus companies into a newly fashioned bus division inside VECV. “This division will offer Volvo and Eicher branded buses, and will maximize synergies to capitalize on sector options,” VECV claimed in a launch.
Akash Passey will be a part of as President of the newly fashioned VECV Bus Division. He will repatriate to India for this role and report to Vinod Aggarwal, MD & CEO VECV. “Going forward, clients and associates can anticipate the same high stage of shopper treatment and world-class goods from both of those Volvo and Eicher models. The new division will also have interaction further more in the dynamic Indian sector pushed by megatrends this sort of as urbanization, e-mobility and connectivity,” claims Akash Passey, Senior Vice President, Volvo Bus Corporation.
On the occasion, Vinod Aggarwal, Handling Director and CEO, VECV claimed “VECV’s powerful existence in the Indian bus sector with Eicher branded buses will be complemented by Volvo Buses’ prominent placement in the top quality bus phase. With this integration, VECV will be in a position to leverage synergies in the regions of product or service progress, obtaining and manufacturing with obtain to Volvo Group’s world-class technology in buses.”.
This tactic will be prolonged to exports, whereby the new bus division will offer goods and solutions that are complementary with Volvo Buses’ main product or service portfolio in decide on global marketplaces, VECV additional.
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