Volvo finalizes deal with Eicher Motors

The Volvo Group has now finalized the deal with Eicher Motors for the establishment of a new Indian joint-venture company, VE Commercial Vehicles Limited. The transaction has been approved by the necessary authorities and 50% of the joint-venture company has been consolidated in the Volvo Group from August 1st 2008.

The joint venture will contain all of Eicher Motor’s truck and bus operations as well as the Volvo Group’s Indian truck sales operations and truck and bus service operations.

As previously announced, Volvo Group has paid INR 13,200M (£ 166.5m).