| || ||Thread Tools||Search this Thread|
|24th April 2015, 14:50||#1|
Join Date: Feb 2004
Thanked: 27,209 Times
Volvo to invest Rs. 700 crore for expanding commercial vehicle business in India
Swedish commercial vehicle manufacturer is planning to expand its business activities in India. The company is planning to invest Rs. 500-700 crore over the next five years. Volvo has already invested close to Rs. 1,000 crore over the last ten years.
The investment will be made in segments such as buses, trucks, construction equipment and financial services. Volvo has already set up its facilities in India. So with the investment, the company will look to expand its current facilities and introduce new products.
The commercial vehicle market in India has been rather slow over the past two years. In the fiscal 2014-15 the sales of commercial vehicles fell by 2.83% compared to the previous year.
However, Volvo feels that the market should see a growth of 15-20% this year. The company also feels that the premium commercial vehicle segment, in which it operates, will grow by 40% in volume terms.
Source: ET Auto
|Thread Tools||Search this Thread|
|Thread||Thread Starter||Forum||Replies||Last Post|
|Renault-Nissan to invest Rs. 5,000 crore in plant expansion. EDIT: Might be 500 crore||Aditya||The Indian Car Scene||6||7th September 2015 15:39|
|Govt to invest 14000 crore in electric vehicle infrastructure||DukeNukem||The Indian Car Scene||31||2nd October 2012 07:47|
|Tata to invest Rs 600 crore on combat vehicle production||DukeNukem||Commercial Vehicles||1||29th August 2012 11:59|
|M&M to invest Rs. 500 Crore in Indian Two-Wheeler Market||Jignesh||Motorbikes||3||22nd May 2012 14:26|
|ET - Mercedes-Benz plans to launch five compact cars in India; invest Rs 350 crore||vinod332002||The Indian Car Scene||1||6th March 2012 10:33|