23. CV MAKER OF THE YEAR
Nominees: a) Tata Motors. b) Daimler India Commercial Vehicles Ltd. c) Volvo Eicher Commercial Vehicles Pvt Ltd. d) Mahindra Trucks & Buses Ltd. e) Ashok Leyland Ltd.
A50:50 joint venture between Volvo Group and Eicher Motors, Volvo Eicher Commercial Vehicles (VECV) has seen sales double since its inception in 2008. The market share of the company has gone up to over 14 per cent, including exports. The new range of trucks and buses under the Pro Series nomenclature are reflecting upon the company’s customercentric approach. Launches like the Pro 1049, and the Pro 8031T/XM indicate a calculated effort, backed by Volvo Group, to move up the technology and value ladder. Investing Rs.1800 crore over five years to develop products, engines and upgrade the existing manufacturing facilities, the CV maker, in 2016, continued to change ahead. It pledged an investment of Rs.700 crore to enhance the quality of products; to modernise them in view of the regulatory needs and market demands.