MUMBAI (Thomson Financial) - Swedish truck and bus manufacturer Volvo is
looking for a partner to manufacture entry-level trucks in India, India's Hindu
Business Line reported.
The company also have plans to set up an engine plant in the country to
cater to Asian region.
"If we have to be a volume player in India, we need to tie up with a company
that can get us numbers as quickly as possible. We could either set up a joint
venture or have a technical arrangement with a company for the new plant," AB
Volvo's executive vice-president and deputy chief executive officer, Jorma
Halonen, said.
The company is holding talks with a few companies in India to set up this
venture, the report added.
"Asia will play a greater role in the future for Volvo group. We are
expanding our truck business worldwide and there is a new focus on Asian
markets. We need to set up an engine plant in Asia and are looking at various
places, including India," Halonen was quoted as saying.
Volvo India produces about 1,000 units of truck sizes of 16 tonnes and above
per year, while the total market size in the country is about 200,000 units, the
paper added.
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