Volvo CE to enhance product localisation

11 Jul 2022 CW Team

Volvo Construction Equipment (Volvo CE) intends to enhance its localisation efforts and expects to grow its revenue by two and half times in the next four to six years. The company’s current annual turnover from the Indian market is estimated to be close to Rs 2,000 crore.

“Volvo CE is gaining market shares on a year-to-date basis and has gained roughly half a per cent market share in the country. We aim to grow (our revenues) by two and a half to three times in the next four years in India,” said Dimitrov Krishnan, Head of Region India, Volvo CE.

It is also looking forward to a few localisation projects for India in the coming years, “we are working towards an ambitious target of 85% product localisation to be achieved by 2025,” said Krishnan. At present, it manufactures four product lines in India.

Also, to enhance the company’s existing range of excavators in India, Volvo launched EC550E crawler excavator in the Indian market for the first time in Bengaluru. Compared to the conventional system, the new product promises to boost productivity by up to 35% and enhance fuel efficiency by 22%.

Volvo CE India also said that it has 19 Indian and four international dealerships. Most of their long-standing partners would be responsible for the newly launched Volvo EC550E and would offer complete sales and service offerings.

Vitizen Hotels Signs Deal at Manyata Tech Park

Vikram Kamats Hospitality, as part of its ongoing expansion in key metropolitan markets, announced that its material subsidiary, Vitizen Hotels, has signed a long-term lease agreement for a 45-key hotel property at Manyata Tech Park, Bengaluru.Strategically located in the city’s prominent IT hub, the property is well-positioned to serve corporate travelers, business professionals, and long-stay guests. The addition aligns with the company’s asset-light growth model, leveraging long-term leases to expand its footprint in high-demand urban markets.The hotel is expected to strengthen the comp..

CONCOR Signs MoU with BPIPL to Operate Container Terminal at Bhavnagar Port

Container Corporation of India (CONCOR) has signed a Memorandum of Understanding (MoU) with Bhavnagar Port Infrastructure (BPIPL) on September 4, 2025, in New Delhi to operate and maintain the upcoming container terminal at the northside of Bhavnagar Port, Gujarat.BPIPL had earlier entered into an agreement with the Gujarat Maritime Board (GMB) in September 2024 for the port’s development. Under this arrangement, 235 hectares of land has been leased to BPIPL for 30 years, with provision for expansion by an additional 250 hectares.The new terminal is expected to significantly enhance logistic..

Concord Launches India’s First Indigenous Zero-Emission Rail Propulsion

Concord Control Systems (CCSL), a leader in embedded electronics and critical rail technologies, has announced the development of India’s first fully indigenous zero-emission propulsion system, marking a significant step toward the country’s railway electrification and net-zero goals for 2030.Powered by Lithium Iron Phosphate (LFP) batteries and featuring a DC chopper-based drive, the propulsion system eliminates idling losses common in diesel engines, offering higher efficiency, lower costs, and zero emissions.What sets this innovation apart is its completely indigenous design. Except for..