In 2008, Volvo Group and Eicher Motors embarked on a transformative journey, forming a joint venture named VE Commercial Vehicles Ltd. Their shared ambition was to establish VECV as an industry leader, propelling modernisation in the commercial vehicle industry in India and across the developing world. Eicher Motors, with its illustrious legacy, has consistently been a catalyst for innovation. Since its inception, VECV has consistently outperformed the market by delivering industry-leading value propositions to customers through the Volvo and Eicher brands in India and through the Eicher brand in 40 other countries in Asia, the Middle East, Africa and Latin America.
VECV’s success story lies in its ability to deliver industry-leading products that seamlessly blend the cutting-edge technology of the Volvo Group with Eicher Motors’ engineering prowess. This unique synergy has propelled VECV to make remarkable strides in the commercial vehicle industry, both in India and on the global stage. VECV has made considerable investments in terms of product range, capacity, and service network with a singular focus on serving truck and bus customers and drivers better. Over 15 years, the company has grown significantly, reaching 33 per cent market share in light and medium-duty trucks (up from 25 per cent), nine per cent in heavy-duty trucks (up from one per cent), and an impressive 24 per cent in the bus segment (up from five per cent).
Together, these visionary partners have introduced next-generation trucks and buses, achieving numerous milestones and pioneering industry “firsts.” Over the past 15 years, VECV has consistently demonstrated leadership in the commercial vehicle industry by being at the forefront of policy and norm implementation, including the implementation of BS VI, axle norms, and safety regulations. Notably, VECV reached an outstanding milestone in 2020 by becoming the first Indian commercial vehicle player to offer a 100 per cent connected fleet, aimed at enhancing profitability and efficiency for the customer. The introduction of the cutting-edge telematics solution through the My Eicher app further underscores VECV’s unwavering commitment to technological advancement. VECV’s dominance in uptime management and services was solidified with the launch of India’s first Uptime Centre that leverages advanced Artificial Intelligence and Machine Learning methodology to deliver Uptime to customers.
Through its Volvo Truck and Bus offerings, VECV continues to deliver globally state-of-the-art solutions for demanding truck and bus applications in India. VECV’s Pithampur powertrain facility is the global hub for all Volvo Group five- and eight-litre engines used globally. The site has been delivering Euro 6-compliant engines to customers all over the world since 2013! Eicher Engineering Components is one of the largest gear producers in India, proudly delivering to leading OEMs in India, Europe and North America. Eicher Power Solutions delivers a range of green CNG and clean Diesel engines to leading genset, farm and equipment manufacturers globally. As a result, VECV stands as one of the fastest-growing commercial vehicle players in India, serving as a proud example of the government’s “Make in India” and “Make in India for the World” initiatives.
With recent strong economic development, infrastructure development and aspirational consumers, India is today the third-largest commercial vehicle market in the world making India a significant market for the Volvo Group. VECV today is participating in the transforming Indian CV industry with safe, electric vehicles. Eicher electric buses operate in cities from Chandigarh to Kerala and Eicher delivered India’s first 5.5-tonne electric truck for commercial operations. VECV’s factories in Madhya Pradesh and Karnataka are focused on sustainable manufacturing practices conforming to Industry 4.0 standards and committed to sustainable practices, well-aligned with the Government of India’s policies and commitments to NetZero 2070 through cleaner, safer, and more efficient logistics solutions.
Through a holistic approach, VECV aspires to establish a productive and efficient transportation ecosystem by leveraging smart manufacturing, alternate fuels, and smart support solutions with its Volvo and Eicher branded trucks and buses. The brand takes pride in offering a comprehensive and technologically advanced product portfolio backed by intelligent technology and solutions. Over the past 15 years, the company has expanded its operations in numerous countries, including in West Asia, South East Asia, Africa, the Middle East and Latin America focusing on exports in light and medium-duty trucks, heavy-duty trucks, buses, components and engines. Going forward, VECV intends to accelerate the growth pace that it has set for itself in the last 15 years. The company remains laser-focused on partnering with its dealers and suppliers to deliver energy efficiency and uptime for Volvo and Eicher customers
