Chennai, Oct. 9 -- VE Commercial Vehicles (VECV), a joint venture between the Volvo Group and Eicher Motors, today announced an investment of Rs 544 crore (approximately 576 million Swedish Krona) for the production and final assembly of the Volvo Group's 12-speed Automated Manual Transmission (AMT).
The greenfield facility will be established at the Vikram Udyogpuri Integrated Industrial Township, near the historic city of Ujjain in Madhya Pradesh, the company said.
The new AMT plant will have an initial capacity to produce up to 40,000 units per annum, with production and local content to be gradually ramped up in line with the Volvo Group's global processes and quality standards.
This investment marks yet another milestone in the succ...