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Volvo Buses India Integrates with VECV

Auto News - Published on Fri, 14 Aug 2020

Image Source: Volvo Buses VECV
Definitive Agreements have been signed for the integration of Volvo Buses India business into VECV. They will cover the manufacture, assembly, distribution, and sale of the Volvo Buses in India, and other rights forming part of the business. Consequently, the bus manufacturing facility at Hosakote in Bengaluru, and all employees of Volvo Bus India will be transferred to VECV. Volvo Bus India is currently a division of Volvo Group India Private Limited

Post the completion of the transaction, VECV and VBI will consolidate their bus businesses into a newly formed bus division within VECV. This division will offer Volvo and Eicher branded buses, and will maximize synergies to capitalize on market opportunities. This strategy will be extended to exports, wherein the new bus division will offer products and services that are complementary with Volvo Buses’ core product portfolio in selected international markets.

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Posted By : Yogender Pancholi on Fri, 14 Aug 2020
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