Volvo, Eicher developing new range of electric vehicles for public transportation
VE Commercial Vehicles, a joint venture of Eicher and Volvo, has earmarked capex of 500 crore for 2018-19 and is working on an affordable range of AC buses to cater to public transit
New Delhi: VE Commercial Vehicles (VECV), a joint venture of Volvo Group India Pvt. Ltd and Eicher Motors Ltd, is developing a new line of products, including a complete range of electric vehicles for public transportation, Eicher Motors CEO Siddhartha Lal said. The company, which has earmarked a capex of ₹ 500 crore for 2018-19 towards new product development and capacity expansion, is working to drive in an affordable range of air-conditioned buses to cater to public transit.