Volvo eyes India as manufacturing hub

Volvo AB, the world’s second-largest truck maker by sales, plans to use India as a manufacturing hub for emerging markets as it seeks to boost sales in Africa and the Middle East. Volvo has a joint venture with India’s Eicher Motors Ltd., called VE Commercial Vehicles Ltd., which comprises Eicher’s truck and bus making operations as well as its auto parts business and engineering services. VE Commercial, which began operations on July 1, 2008, is 54.4%-owned by Eicher, with Volvo holding the remaining stake. It is also the exclusive distributor of all trucks and buses made by Volvo in India. (December 2, 2008)