Joint Venture of two leading players Volvo Group and Eicher Motors, Volvo Eicher Commercial Vehicles Limited (VECV) has planned to invest Rs 1500 crore in the electric vehicle sector in Madhya Pradesh.
Chief Minister Shivraj Singh Chouhan was recently called on by Volvo Eicher Commercial Vehicles Limited MD Vinod Aggarwal and informed about the proposed investment of Rs 1,500 crore in Madhya Pradesh.
The automobile industry is already operated by the company in Pithampur and Bagroda.
The company has set up 8 manufacturing units, providing direct and indirect employment to more than 32,000 people.
The Chief Minister assured the company’s MD Aggrawal that he would get full cooperation from the state government. All necessary facilities will be provided as per the prescribed policy.
Such industries are the need of the day and a large number of youth will also get employment.
Chouhan was apprised of the new proposal in the electric vehicle sector by Volvo Eicher Commercial Vehicle Limited Managing Director Vinod Aggarwal at Kushabhau Thakre Auditorium.
He apprised about the project proposal prepared for capacity expansion of the existing units of the company.
Handing over a copy of the proposed project to the Chief Minister, he informed that the first unit was set up by Volvo Eicher Commercial Vehicle Limited in the state in the year 1986. Presently 8 units are running at Pithampur and Bagroda.
Materials are supplied to all the units of the company by 110 auto component units of Madhya Pradesh.
To expand the existing capacity of the units, new product manufacturing is proposed.
The work is being done as per the company’s upcoming strategy in the Electric Vehicle sector. The units are running smoothly due to the provision of necessary facilities by the state government.
The details of the proposal of the company were given by Principal Secretary Industrial Policy and Investment Promotion Sanjay Shukla.
The company’s Chief Operating Officer Rajendra Singh Sachdev and Vice President Nitin Nagda were also present.
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