VE Commercial Vehicles (VECV), a Joint Venture between Volvo Group and Eicher Motors on Wednesday late evening announced an investment of ₹544 crore to produce and assemble Volvo Group’s globally 12-speed Automated Manual Transmission (AMT). The greenfield factory will be established at Vikram Udyogpuri Integrated Industrial Township, near Ujjain, Madhya Pradesh, says a release.

The new facility will have an initial capacity to produce up to 40,000 units per annum. With production and local content to be gradually ramped up in line with Volvo Group’s global processes and quality standards.

Sofia Frandberg, Chairperson, VE Commercial Vehicles and Senior Leader, Volvo Group said, the investment by VECV represents yet another win-win synergy with the Volvo Group and leverages the technical

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