VE Commercial Vehicles (VECV), a joint venture of Volvo Group and Eicher Motors, is developing a slew of products, including a complete range of electric vehicles for public transportation, Eicher Motors MD & CEO Siddhartha Lal said.
The company, which has earmarked a capex of Rs 500 crore for the ongoing financial year towards new product development and capacity expansion, is working to drive in an affordable range of air-conditioned buses to cater to public transit.
In a message to shareholders in the company's Annual Report for 2017-18, Lal said the company is also developing light and heavy-duty buses for the Middle East and African markets.
"We plan to have a complete range of electric-mobility solutions for public transportation, offering world-class quality and comfort. We are also developing an affordable air-conditioned range of buses aimed at bringing superior comfort to public transit," Lal said.
The company has already commenced operations of its Skyline Pro Electric buses in Kolkata and thus joined the league of zero-emission vehicle manufacturers, he added.
VECV, which sold a record 65,932 vehicles in 2017-18, a growth of 12.5 per cent over 2016-17 volumes, is also focussing on segments like construction, mining and e-commerce to drive future growth, he added.
On capex for 2018-19, he said: "We plan to invest Rs 500 crore in VECV towards new product development and capacity enhancement."