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Home arrow Alliances and Joint Ventures arrow Volvo and Eicher Joint Venture finalized
Volvo and Eicher Joint Venture finalized Print E-mail
Written by Vijay   
Saturday, 23 August 2008
New Delhi: Today, Eicher Motors Limited (EML) and AB Volvo( Volvo) finalized their joint venture deal with the closing of definite agreements that were signed between the two on May 26, 2008.

EML has transferred its commercial vehicles business along with its related components and engineering design services businesses to its joint venture company with Volvo, VE Commercial vehicles Limited (VECV).

In addition to the businesses being transferred from EML, this JV will also contain Volvo Group’s Indian truck sales operations and the truck and bus service operations.

The operations of VECV are effective from July 01, 2008.

The joint venture comprises Eicher Motors’ entire truck and bus operations and the Volvo Group’s Indian truck sales and service operations. Besides commercial vehicles the joint venture also encompasses the components and engineering design services businesses of EML. However, Royal Enfield Motorcycles will remain outside the purview of the joint venture and continue to operate under the aegis of EML.

 
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