Volvo Buses India integrates with VECV in merger valued at Rs 100 cr

Two bus businesses will become part of a new division in VECV, say executives.

Volvo Buses India said on Thursday it will integrate with Volvo Eicher Commercial Vehicle (VECV), drawing a valuation worth Rs 100 crore for the merger.

The two companies will cooperate in product development, purchasing and manufacturing to become the leader in bus manufacturing, said Vinod Aggarwal, Managing Director & chief executive officer of VE Commercial Vehicles.

The two bus businesses will become part of a new division in VECV. Akash Passey, senior vice president for Volvo Buses, will head the new division as president. 

The “division will offer Volvo and Eicher branded buses, and will maximize synergies to capitalize on market opportunities. This