Volvo plans to make India its new manufacturing hub for emerging markets

Posted By: Religare
Subscribe to GoodReturns
Swedish bus manufacturer, AB Volvo, has planned to launch a new 'value brand' in the Indian market as a part of its global strategy. The automobile maker aims at making India, its manufacturing hub for the emerging markets.

With the establishment of a large warehouse, new paint shop, technical training centers and a new chassis line, Volvo has accomplished incredible bus plant expansion and has doubled its annual production capacity to 1,500-1,700 buses from 800 units earlier.

The firm has future plans to take the annual production figures to around 5,000 units a year by 2015-16.

"We have been a premium bus maker and our entry into the value segment would help us to leverage the Volvo brand for a superior travelling experience in India. The new brand would offer the same higher passenger comforts, but would be priced closer to the traditional segments that form a larger chunk of the Indian market," said chairman of the board, Volvo Buses in India, Akash Passey.

Read more about:
Story first published: Friday, February 22, 2013, 23:30 [IST]
Please Wait while comments are loading...
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

Find IFSC