New Delhi [India], December 7 (ANI): VE Commercial Vehicles (VECV), a joint venture between the Volvo Group and Eicher Motors, has started commercial operations at its new truck manufacturing unit at Bagroda in Bhopal, making it the company's eighth facility in Madhya Pradesh.
The company said several ancillary units are expected to come to Bagroda. This holds a very bright future for the development of this area as well as for the creation of employment opportunities for the local people.
VECV said the new plant has been set up based on world-class manufacturing technology with connected machines following IoT methodology and Industry 4.0 standards. In the first phase, the plant will have the capacity for manufacture of 40,000 trucks.
"Apart from meeting the domestic demand, this facility will also be used for catering to new export markets, thus contributing to the vision of Atmanirbhar Bharat as well as Make in India initiatives by our commitment to Make in Madhya Pradesh," said Managing Director and CEO Vinod Aggarwal.
Earlier in 1986, the company's truck plant became the pioneer plant in establishing Pithampur industrial area which was a not an industrial district at that time.
VECV is one of the large investors in the state with an investment of more than Rs 5,000 crore in its eight plants. Apart from this, it has attracted more than 100 ancillary and other suppliers for supplying the parts required in the manufacture of trucks.
As a result, the company has generated direct and indirect employment for over 30,000 people including suppliers and associates.
The joint venture company has been in operation since August 2008. Its portfolio includes a range of Eicher branded 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. (ANI)