Volvo has collaborated with a Bangalore-based company to launch new range of buses focused at India and other developing markets while the Swedish automaker points for a greater allotment of the world's second-biggest transport market.
Volvo has framed a joint wander with SM Kannappa Automobiles to structure another organization, Prakash Bus Corp that will fabricate UD brand of transports from an office close Kolar, something like 70 kilometer from Bangalore.
"By the year 2020, we see huge growth in the value segment and UD buses will help the company get a significant share of this segment," said Akash Passey, senior vice president of Volvo.
Passey said that climbing request in level I and level II urban communities is one component which made the company wander into this "untapped section."
Volvo plans to recreate its prosperity from the top end range which it began offering in 2001. Volvo, which has sold over 5,000 transports since it began operations in the nation, has a 90% allotment in head between city transports. Since the interest in this section is developing at a slower rate, the organization is finding to drive volumes by entering the mid extent of the business sector.
The Swedish organization additionally plans to make Bangalore as its fare center point and will dispatch the UD Brand of transports to other South Asian nations and the Middle East in spite of the fact that until further notice no unmistakable timetable has been chosen. UD is a Japanese organization purchased by Volvo in 2007 and India turns into the first nation outside Japan where the brand is, no doubt disclosed.
"By 2020, we expect this value segment to be 10,000 numbers in size," said Passey.