Eicher Motors Ltd and AB Volvo (Volvo) finalised their joint venture deal with the closing of definite agreements that were signed between the two on May 26.
EML has transferred its commercial vehicles business along with its related components and engineering design services businesses to its joint venture company with Volvo, VE Commercial vehicles Ltd. (VECV). In addition to the businesses being transferred from EML, this venture will also contain Volvo Group’s Indian truck sales operations and the truck and bus service operations. The operations of VECV are effective from
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