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Corporate
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Outlook
Volvo invests Rs 80 cr in new unit
New Delhi, Jan. 10
Volvo Bus Body Technologies, the joint venture
between Sweden's Volvo AB and domestic bus-body
maker Jaico Automobiles Ltd, will be operational by the
end of January, with the company investing Rs 80 crore
to set up a bus body manufacturing plant at Hosakote,
Bangalore. The joint venture company would have a
manufacturing capacity of 1,000 buses per year and cater
to both Indian and foreign markets. It will be operational
by the end of this month, said Mr Akash Passey, newly
appointed Managing Director, Volvo Bus Body
Technologies. It will also export its products to Africa,
West Asia, and South East Asia. The Hosakote plant is
slated to roll out a new version of Volvo 9400 inter-city
buses in the first quarter of 2008. "We are looking to sell
around 450 buses this year in India," said Mr Passey.
"Besides Bangalore, we are also looking at launching our
buses in Chennai and Pune,'' he added. - Our Bureau
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