VE Commercial Vehicles, a joint venture between Volvo Group and Eicher Motors, on Saturday said that it has commenced commercial operations at its truck manufacturing unit at Bagroda in Bhopal district.
Accordingly, this is the eighth manufacturing facility of VECV in Madhya Pradesh and set up with 'Industry 4.0 standards'.
In the first phase, the plant's manufacturing capacity will be 40,000 trucks, the company said.
"Apart from meeting the domestic demand, this facility will also be used for catering to new export markets, thus contributing to 'Atmanirbhar Bharat' and 'Make in India' initiatives through our commitment to 'Make in Madhya Pradesh'," said Vinod Aggarwal, MD & CEO, VECV.
The company, in operation since August 2008, is into the manufacturing of complete range of Eicher trucks and buses, Volvo buses, exclusive distribution of Volvo trucks in India, engine manufacturing and exports for Volvo Group, non-automotive engines and Eicher component business.
The company reported an 11.9 percent increase in sales for October at 4,200 units. The company had sold 3,755 units in October 2019, VE Commercial Vehicles (VECV) said in a statement.
Eicher branded trucks and buses recorded total sales of 4,130 units last month as compared to 3,681 units in the year-ago month, up 12.2 percent, it added. In the domestic market, sales of Eicher branded trucks and buses were at 3,815 units last month as against 3,309 units the same month a year ago, up 15.3 percent, the company said.
(With inputs from IANS and PTI)