13th August 2020, 11:51
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| Senior - BHPian  Join Date: Jul 2017 Location: Pune
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| Volvo Buses to merge with Volvo Eicher Commercial Vehicles Volvo Buses India is merging its business with Volvo Eicher Commercial Vehicles (VECV). Agreements for the transfer have been signed and the transaction is expected to be closed within the next 2 months, once the conditions under the agreement are fulfilled.  At present, Volvo Buses India is a division of Volvo Group India Private Limited (VGIPL). Under the new deal, all assets including the manufacturing plant at Hosakote, assembly, distribution and sale of Volvo buses in India and other rights will be transferred to VECV. After completion of the transaction, VECV and Volvo Buses India will be merged into a new bus division. The new entity will offer both Volvo and Eicher branded buses. It will also offer products and services for export markets. At present, Volvo Buses' India portfolio includes the 9400 B8R 4x2 coach and the 9400 B11R 6x2 multi-axle coach. Both models are powered by BS6-compliant diesel engines. Volvo coaches are popular on inter-city routes. Link to Team-BHP News |
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