Agreements have been signed for the integration of Volvo Buses India business into VECV. They will cover the manufacture, assembly, distribution, and sale of the Volvo Buses in India, and other rights forming part of the business. Consequently, the bus manufacturing facility at Hosakote, Bengaluru, and all employees of Volvo Bus India (VBI) will be transferred to VECV. Volvo Bus India is currently a division of Volvo Group India (VGIPL).
Urbanisation is now becoming the most happening global phenomenon. According to the United Nations report, about 68 per cent of the world's population will reside in urban areas by 2050. More and more people will be migrating to the metro region, putting more pressure on urban planning. Policymakers will need to optimise the management of their communities to create sustainable economic stability. We are living in the age of smart cities with rapid advancement of connected devices, software systems, and information communications technologies.