New Delhi, Jan 13: Volvo Bus Corporation said it will enter into a joint venture with Jaico Automobiles to set up the Volvo Bus Body Technologies India Pvt Ltd (VBT) at an initial investment of Rs 80 crores.
The new company, headquartered in Bangalore will be the new face of Volvo Buses in India and will undertake selling of complete Volvo bus unit including bus-body manufacturing at its new facility. VBT will start its fully operational bus body plant in Hosakote, Bangalore by the end of January 2008. This new entity will provide Volvo Buses greater flexibility in introducing new product variants in the future besides catering to export markets.
''The new company boast's of one of the most modern plants in South Asia with a manufacturing capacity of 1,000 buses. The company will manufacture products for the Indian market along with exports to markets like Africa, West Asia and Southeast Asia,'' said the newly appointed Volvo Bus Body Technologies MD Akash Passey.
The new plant is slated to roll out a new version of Volvo 9400 Intercity buses in the first quarter of 2008.