New Delhi: Swedish commercial vehicles maker Volvo on 11 September said it was exploring opportunities for joint ventures, alliances or even acquisitions in India for expanding its trucks business.
As part of its plan to expand Volvo’s truck portfolio from off-road applications like mining to on-road vehicles, the company was also mulling over bringing Nissan Diesel trucks, Volvo India Managing Director Eric Leblanc told reporters here.
“Currently, we are in talks with various parties for joint ventures, alliances or even acquisitions for expanding our trucks business in India,” he said, but declined to name firms with which the company was holding talks.
Leblanc said Volvo, which is currently present in off-road application truck segment in 25-49 tonnes, plans to enter the 16 tonnes and above category for on-road applications in the first phase and expand to lower segment in future.
“There is huge potential in the Indian commercial vehicles market, which is at about 2,00,000 units a year. We have just about 1000 units, there is room for growth,” he added.
“One of the options is to bring out Nissan Diesel trucks in India but we do not have concrete plans yet,” Leblanc said.
In case the company decides to bring the Nissan Diesel trucks here, it may manufacture it at the company’s Bangalore facility, Leblanc added.
He also said another possibility could be to bring products of Chinese firm DongFeng Auto Co but “we are still discussing with them and it is too early to say anything”.
On the sales front, he said so far, this year the company has achieved 20% growth as demands for its off-road commercial vehicles have not tapered despite the sluggishness witnessed by the Indian auto sector.