VE Commercial Vehicles Invests Rs 544 Crore in New AMT Facility
VE Commercial Vehicles, a joint venture between Volvo Group and Eicher Motors, is investing Rs 544 crore to establish a greenfield facility in Madhya Pradesh. The plant will produce 12-speed automated manual transmissions to meet demand from Eicher heavy-duty trucks and select markets in Asia-Oceania.
- Country:
- India
VE Commercial Vehicles, a collaboration between the Volvo Group and Eicher Motors, announced a significant investment of Rs 544 crore to develop a new production facility. The facility will focus on the manufacturing of Volvo Group's 12-speed automated manual transmissions.
The establishment of this greenfield factory will take place at the Vikram Udyogpuri Integrated Industrial Township near Ujjain, Madhya Pradesh. The investment aims to serve Eicher's heavy-duty truck customers in India along with Volvo's market needs in India and select regions in Asia-Oceania.
Siddhartha Lal, Eicher Motors Chairman, emphasized that this investment reflects their vision of modernizing commercial transportation. The new facility will have the capacity to produce up to 40,000 units annually and will gradually increase production in line with global quality standards.
(With inputs from agencies.)
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