In the past few days of the year, we have come across a plethora of OEMs kicking into the electric mobility segment for both commercial and personal usage, and it seems as if Volvo Eicher is no different! VE Commercial Vehicles (VEVC) is one of the most successful joint ventures in terms of commercial vehicles in India, and it is suspected that they are on the path of developing a new electric offering! Stay tuned for more about the Volvo Eicher EV.
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As a joint venture between Eicher Motors and the Volvo Group, both the enterprises plan to lay the foundation for an entirely separate division to research and develop commercial Electric Vehicles in India to cater to the need for booming electric mobility. As per a few sources, the VECV joint venture will be open for private equity funding for their EV division.
Volvo Eicher Joint Venture plans to become a leading player in commercial vehicles for both passenger carrier and goods carrier segments. As the enterprises plan to participate in the government's tender for five thousand electric buses, the newly developed EV division would require a significant amount of funds so as to develop, manufacture and operate the buses as per the contracts. Thus, they plan to make desirable changes so as to manage the operations of these pubic carrier fleets.
It is suspected that Volvo Eicher EV won't be just a 9 metre or 12 metre long bus, but also a goods carrier! VECV would be kicking in to develop a 5 tonne and 55 tonne load carrying capacity commercial electric trucks as well!
The joint venture plans to invest around Rs. 1500 crore till the year 2025 to cater to the demand of electric mobility in India and would focus on sustainability, profitability and growth in the long term instead of focusing on having a significant chunk of market share. With this significant research and development, they aim to upgrade their existing commercial vehicle portfolio to the second phase requirements of the Bharat Stage Emission Norms and is looking to enter the CNG and LPG sector as well.
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So, what do you think about the Volvo Eicher EV on the cards? Share your views in the comment section. Let's get into a discussion with this in our 91Wheels Telegram and 91Wheels Whatsapp group, where you can know more about vehicles, conduct discussions on your favourite ride, and much more! You can also subscribe to our Youtube channel for our exclusive video content on the latest from the world of cars and motorcycles. Also, connect with us on Facebook, Instagram, and Twitter for more about vehicles!
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