VECV to expand business
VE Commercial Vehicles (VECV) will invest Rs 1,000 crore by 2013 on various activities, including expansion of engine production capacity, launch new products and enhancing R&D. The investment will go into various areas, including ramping up engine production capacities, enhancing R&D infrastructure, developing new products and strengthening distribution and after sales network.

The company has a capacity to produce 60,000 engines a year. It is setting up a new plant to roll out one lakh engines every year, which is based on Volvo technology. The new plant will be commissioned by the middle of next year, according to the company.

VECV is a 50-50 joint venture between the Volvo Group and Eicher Motors.