VE Commercial Vehicles to invest Rs 600 cr this year

Tags: Cars
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.

EDITORIAL OF THE DAY

  • Common test will safeguard sanctity and bring accountability to medical profession

    Recalling its order of 2013, the Supreme Court paved the way for the all-India common entrance test, the national eligibility-cum-entrance test (NEET)

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Amita Sharma

Political rhetoric makes for counter poetry

Poetic flourishes flavour politics. Ghalib and Hafez flowed profusely to ...

Zehra Naqvi

Watch your words, for they can kill

You must’ve heard the ph­rase ‘if looks could kill’. Ever ...

Dharmendra Khandal

Biodiversity day has come and gone. Yet again

Every year on May 22, world celebrates international biodiversity day. ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture