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Eicher Motors Limited ( (IN:EICHERMOT) ) has provided an update.
VE Commercial Vehicles, a joint venture between Volvo Group and Eicher Motors, has announced a significant investment of ₹ 544 crore to manufacture Volvo’s 12-speed Automated Manual Transmissions (AMT) in India. This initiative aligns with the Indian government’s ‘Make in India’ vision and is expected to enhance VECV’s market position by leveraging its technical capabilities and addressing customer needs in the commercial vehicle sector. The new facility at Vikram Udyogpuri Integrated Industrial Township in Madhya Pradesh will serve both local and select international markets, marking a strategic milestone in VECV’s growth and modernization efforts.
More about Eicher Motors Limited
Eicher Motors Limited is a prominent player in the commercial vehicle industry, known for its joint venture with Volvo Group, VE Commercial Vehicles (VECV). The company focuses on manufacturing heavy-duty trucks and engines, serving markets in India and select Asia-Oceania regions.
Average Trading Volume: 20,138
Technical Sentiment Signal: Buy
Current Market Cap: 1886.2B INR
See more insights into EICHERMOT stock on TipRanks’ Stock Analysis page.