VE Commercial Vehicles to invest Rs 600 cr this year

VE Commercial Vehicles, the 50:50 joint venture between Volvo Group and Eicher Motors, plans to invest Rs 600 crore this year on product development and marketing initiatives.

The company also aims at increasing its market share with the introduction of its Pro series of trucks.

"From July 2008 to December last year, we have invested Rs 1,900 crore in the JV. We will invest another Rs 600 crore this year for product roll-out and other things," Eicher Motors MD and CEO Siddhartha Lal told PTI.

He added that the Pro series, with vehicles with gross weight between 5 and 49 tonnes, would be rolled out in a phased manner starting next month.

"Within next 18 months, the entire range will be out," he said.

The range has been developed and manufactured as a result of synergies between Volvo and Eicher Motors.

The Pro series trucks launched today will cater to various segments including construction.

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