Volvo Bus launches new range of buses
Swedish luxury bus maker Volvo has launched a range of four buses, comprising city bus and coaches for the Indian market. The new models, Volvo 9400PX, 7400XL, 9100 and 7700 hybrid would be showcased at the 2012 Delhi Auto Expo.
The President and Chief Executive of Volvo Bus Corporation, Mr. Hakan Karlsson said to media, “By 2015, we expect that over 50 percent of sales will come from Asia, mainly China and India. As part of our strategy, we are unveiling a range of four luxury buses catering to different segments.”
Currently, the company is selling around 1000 units every year and likely to sell 5000 buses in India by 2015. For this there will be an investment of Rs 400 crore which will include a research centre and capacity expansion.
Volvo Buses India will start shipment to neighbouring countries such as Sri Lanka and Mexico. The firm plans to expand its capacity in Hoskote to 2500 units in the next 2 years. At present, the facility produces 1000 vehicles. The company started the process to set up second factory in India.
With these launches, the company offers 10 bus models in India. According to Karlsson, the company is targeting become a USD 1 billion entity in the country from the current turnover of about Rs 1000 crore.
Volvo Bus launches new range of buses
Originally published on: All India Today
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