Volvo India Buses :
We at burnyourfuel at times bring you some off-road news and this time around its with regards to Volvo’s ambition. Volvo India is looking at generating $1 billion revenue in 5 years from their luxury buses and exports.
Akash Passey, managing director, Volvo Buses India said the Swedish bus maker expects 2010 revenue of Rs 500 crore (about $110 million).
Volvo Buses India will step up on its exports from 2011. Exports will account for 25-30% of total volumes of India over the next few years, over the current 5%. Volvo has begun exports only this year, and about 15 to 20 units are going out to countries like Sri Lanka, Bangladesh and South Africa.
Volvo started developing it’s R&D capability in India in 2009. “Volvo will increase it’s R&D capability in India due to the high skill level of the technicians,” said Akash Passey.
In five years the company hopes to achieve a revenue of US $1 billion. – Stay Tuned !
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