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Eicher, Volvo to invest $331 mln in Indian JV over next two years
November 7, 2012 / 10:36 AM / 5 years ago

Eicher, Volvo to invest $331 mln in Indian JV over next two years

NEW DELHI, Nov 7 (Reuters) - Eicher Motors and Volvo AB will invest 18 billion rupees ($331 million) over the next two years in their Indian joint venture, Eicher’s head said on Wednesday, and begin exports of engines to Volvo’s European operations next year.

The Eicher-Volvo JV will roll out a new range of trucks and buses built in India using Volvo technology by the end of 2013, and look to commence exports of these vehicles to Africa, the Middle East and South East Asia within two to three years, managing director Siddhartha Lal told Reuters.

$1 = 54.4350 Indian rupees Reporting by Henry Foy and Matthias Williams; Editing by G.Ram Mohan

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