MP’s Make In India Victory: Volvo-Eicher To Set Up Rs 400 Crore Greenfield Manufacturing Plant In Bhopal

Volvo and Eicher have announced a collaboration to set up a Rs 400 Crore greenfield manufacturing unit in Bhopal, Business Standard has reported. Volvo and Eicher are commemorating 10 years of partnership in India.

"The Madhya Pradesh government has allotted land for the new plant and work to set up this plant is expected to start soon," Volvo Eicher Commercial Vehicles (VECV) said in its Bombay Stock Exchange (BSE) filing.

The company has set a deadline to complete the plant in next 18 months. The manufacturing unit will have a capacity to manufacture of 40,000 trucks in addition to the capacity of 90,000 trucks it already has in its Pithampur plant.

“With the announcement of setting up of a new plant at an investment of Rs 4 billion, we have full confidence in the growth potential in the Indian market and with technologically superior products, VECV is in an advantageous position to fully leverage the opportunities in the market”, said President of Volvo Group Trucks Asia and JVs Hkan Karlsson after the new plant’s announcement.