Advertisement

HindustanTimes Sat,12 Jul 2014

Scania scales up business in India

HT Correspondent, Hindustan Times  Mumbai, January 31, 2013
First Published: 23:30 IST(31/1/2013) | Last Updated: 23:31 IST(31/1/2013)

Swedish truck maker Scania, which is a part of the Volkwagen group, is scaling up its Indian operations by starting a local assembly and launching  intercity bus coaches and haulage trucks.

Advertisement

The company, which entered  the Indian market in 2007 in partnership with Larsen & Toubro, is expanding its business beyond deep mining trucks, the only segment where it is currently present.

Scania is investing Rs. 250 crore to set up an assembling and bus building facility near Bangalore which will be operational by mid-2013.

The Bangalore plant, once fully operational, will have the capacity to produce 3,000 units of truck and bus chassis as well as 1,000 units of buses.

“Our ambition is to sell about 2,000 trucks and 1,000 coaches per year in the Indian market within next five years,” said Anders Grundstromer, managing director, Scania Commercial Vehicles India.

The locally assembled Scania trucks will roll out of Bangalore plant by the end of this year while bus production will start in early 2014.


Advertisement
more from Business

Doubling of tax on debt mutual funds to hit retirees

On Thursday, finance minister Arun Jaitley gave investors and the mutual fund industry a jolt by increasing the long-term capital gains tax on debt mutual funds to 20% from 10%. The definition of long-term has also been changed to 36 months for non-equity MFs from 12 months.
markets
Advertisement
Most Popular
Advertisement
Advertisement
Copyright © 2014 HT Media Limited. All Rights Reserved