Volvo says India engine plant capable of exporting 30 pct of output
BANGALORE Nov 15 (Reuters) - Volvo AB, the world's No.2 truck maker, expects its India engine plant to be capable of exporting as much as 30 percent of its production, Chief Executive Officer Olof Persson said.
Volvo, which operates in India alongside local partner Eicher Motors Ltd, will ramp up its India engine plant capacity to 100,000 units a year by 2016, he told reporters in the southern Indian city of Bangalore on Wednesday.
Volvo and Eicher will invest $330 million in their 50-50 joining venture over the next two years, Eicher's head told Reuters last week. (Reporting by Harichandan Arakali; Editing by Ryan Woo)
- Carnage at U.N. school as Israel pounds Gaza Strip |
- Moscow fights back after sanctions; battle rages near Ukraine crash site |
- U.S. economy back on track with strong second-quarter rebound |
- Argentina fails to reach debt agreement, default looms
- Obama to Republicans: ‘Stop just hatin’ all the time’