Volvo sells residual stake in Eicher Motors
Swedish commercial vehicle manufacturer Volvo AB has exited Eicher Motors by selling off its entire stake for Rs 1,731 crore. In 2008, Volvo had picked up an 8.4 per cent stake in Eicher for Rs. 157 crore. There will be no change in the functioning of VE Commercial Vehicles (VECV), an equal joint venture between Volvo Group and Eicher Motors.