According to Aggarwal, President, SIAM and, MD and CEO, VECV, electrification of mobility is happening in India but to make it faster to hit the net zero target on time, the many hurdles have to be overcome with the collaborative efforts of all the stakeholders, the government, industry, consumers, and various other facilitators.
Sales of heavy duty trucks that can carry more freight has grown in healthy double digits - by 15% in the first seven months of the year, said Vinod Aggarwal, president of the Society of Indian Automobile Manufacturers (SIAM) and VE Commercial Vehicles (VECV) chief executive officer and managing director. VECV is a joint venture between the Volvo Group and Eicher Motors.
India is set to experience significant growth in the next decade and become a key player in manufacturing operations for the Volvo Group, according to Sofia Frandberg, Chairperson of VE Commercial Vehicles (VECV). Frandberg highlighted the company's strong growth in all segments, including buses, trucks, engines, and components. VECV, a joint venture between Eicher Motors and Volvo, has already become the sole global manufacturer of 5-litre and 8-litre diesel engines for Volvo.
On Friday, GreenCell Mobility and VE Commercial Vehicles announced that they had reached a deal to supply 1,000 electric buses over the following five years. The two parties have signed a memorandum of understanding, which envisages VE Commercial Vehicles (VECV) supplying 1,000 Eicher electric buses to GreenCell's intercity bus business, NueGo, the two companies said in a joint statement.
According to Eicher Trucks and Buses, this step is towards the commitment to working with customers to reduce the carbon footprint associated with transportation, aligned with the government's Net-Zero vision.
The partnership aims to cultivate competencies required for the rapidly evolving automotive sector and nurture future talent in the field. The collaboration will also enable VECV employees to pursue advanced degrees, including MTech, MS(R), and PhD, from IIT Indore.
The order of 550 buses is an indication of the company's robust expansion plans going forward to become a pan-India operator, Vijayanand Travels said in the statement. "Vijayanand Travels has placed the largest order in India for 550 intercity buses from Volvo and Eicher. The approximate worth of the order is INR 500 crore, which includes 500 units of Eicher Intercity 13.5m AC and non-AC sleeper coaches and 50 Volvo 9600 luxury sleeper coaches," it said.
Dedicated to providing exceptional travel experiences to intercity passengers, the Eicher Intercity 13.5m AC sleeper buses will form the latest addition to VTPL’s extensive fleet. These state-of-the-art buses are a combination of the renowned body-building excellence of VECV’s Hosakote factory and fully specced Eicher 13.5m full-air suspension bus chassis.
Eicher Trucks & Buses, a business unit of VE Commercial Vehicles (VECV), offers its vehicles equipped with telematics solutions since April 2020. Under Eicher Uptime 1.0 Services, experts at the company’s control room are equipped to remotely monitor vehicles being attended at the its Uptime Certified workshops across the country. Now, with Uptime 2.0 the automaker is working on data analytics to predict vehicle behaviour and analyse potential failures before they occur.
For the quarter, the consolidated revenue from operation rose 71.18% YoY to INR 3,325.80 crore from INR 1,942.84 crore in the corresponding quarter last year.
"Indian bus industry is on the path of revival. With the market opening up across segments, inter-city travel is picking up robustly and will soon touch pre-COVID levels," VECV Managing Director and CEO Vinod Aggarwal said at the unveiling of Volvo and Eicher intercity buses in Hyderabad.
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