VECV reveals investment plans for FY14
VECV (Volvo Eicher Commercial Vehicles), is a 50:50 Joint Venture between Volvo and Eicher. After launching a new range of products at Auto Expo’14 at Greater Noida, Delhi NCR, VECV is planning to invest around Rs. 1000 Crores in the year 2014, to upgrade its manufacturing plants at Bangalore and Pithampur.
This up-gradation includes addition of a new manufacturing line to the existing plant at Bangalore and doubling its capacity of producing buses at its Pithampur plant in Madhya Pradesh. With this investment, VECV is planning to launch the Light-duty trucks of Pro-series first and the remaining later.
With the new range of products in-line for production, VECV is also working on its Sales and Marketing options. As of a recent report, VECV was among the ones who were able to lessen the losses in sales figures, that the whole Indian CV sector experienced few months back. As of current status of the market, VECV is expecting the upcoming months to be supportive, in respect to past months.