+
Volvo CE to enhance product localisation
Equipment

Volvo CE to enhance product localisation

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.

Also Read:

Volvo unveils its first large electric crawler excavator

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.Also Read:Volvo unveils its first large electric crawler excavator

Related Stories

Gold Stories

Next Story
Infrastructure Transport

97 Per Cent Of Rongjeng-Mangsang-Adokgre Road Nears Completion

Deputy Chief Minister in-charge of public works Prestone Tynsong said in Shillong on 26 August that 97 per cent physical progress had been achieved on the ongoing Rongjeng-Mangsang-Adokgre road being constructed under the Non-Lapsable Central Pool of Resources (NLCPR). He noted the project was sanctioned in 2017 and that the stipulated time for completion had been 24 months from issue of the final work order. The deputy chief minister informed the assembly that the government had decided to include the remaining work under a World Bank project. In reply to a query from Rongjeng MLA Jim M Sangm..

Next Story
Infrastructure Transport

First TBM Starts Digging Five Point Three Kilometre Tunnel Under SGNP

The Goregaon-Mulund Link Road (GMLR) Phase three (B) project has reached a key milestone as the first tunnel boring machine (TBM) began excavation of the first of two tunnels beneath the Sanjay Gandhi National Park (SGNP). The machine, named Tulsi, started cutting a five point three kilometre bore that will link Dadasaheb Phalke Chitranagari in Goregaon East with Amar Nagar in Mulund West. Officials issued a statement noting the commencement of tunnelling work under the protected green belt. The twin tunnels are being constructed using mechanised tunnelling methods that aim to limit surface di..

Next Story
Infrastructure Transport

UP Approves Two Expressways And Rs 240 bn Infrastructure Push

The Uttar Pradesh Cabinet approved a series of infrastructure and industrial investment proposals totalling Rs 240 billion (Rs 240 bn), including two major expressway projects, a manufacturing and logistics cluster in Sultanpur and incentives for 11 industrial projects across the state. The decisions, taken at a meeting chaired by Chief Minister Yogi Adityanath, underline the state government’s focus on expanding road connectivity around emerging industrial hubs while attracting manufacturing investment to districts beyond major urban centres. The approvals cover both greenfield expressway c..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code