Swedish busmaker Volvo on Thursday said it expects 50% of its global revenues to come from Asia by 2015, led largely by growth in markets like India and China.
Volvo launched the first three of a series of products that have been developed in India. Its Indian operations is targeted to grow 5 fold by 2015 to become a $1 billion enterprise. "In 2012 we will launch 10 products. That is how importance India is," said Akash Passey, MD and CEO, Volvo, South Asia. "In these 10 years, we have produced 5000 buses. By 2015, we intend to produce that many vehicles every year."