New Delhi: VE Commercial Vehicles, the 50:50 joint venture between Volvo Group and Eicher Motors, aims to have 15 percent domestic market share in the heavy duty trucks in the next three years.
The company, which today launched three trucks under the Pro 6000 series of next generation heavy duty trucks, is relying on the Pro Series to achieve the desired target.
"Our aspiration is to become strong player in the heavy duty segment, that is 16-49 tonnes category. The three trucks launched today will help us achieve the target of 15 percent market share in the next three years," VECV CEO Vinod Aggarwal told reporters here.
The company currently has around 4 percent market share in the segment, he added.
When asked about the investment on the development of new product range, Aggarwal said: "We have invested close to Rs 2,300 crore in the last 4-5 years on infrastructure development, new products and revamping and modernising the entire set up."
The three trucks, launched in 21-31 tonnes category today, would be priced in the range of Rs 21 lakh to Rs 30 lakh range depending on variants, he added.
"The Eicher Pro 6000 Series marks yet another milestone in journey of Eicher Trucks and Buses, to become a strong player in the commercial vehicle industry, especially in the heavy duty segment," Aggarwal said, adding as commercial vehicle industry was expected to revive, the firm was ready with the new range.
Volvo Group Senior Vice President Philippe Divry said the launch of the new range reiterates the company's commitment to change Indian commercial vehicle scenario.
"With the launch of the Pro Series by Eicher, our strategy to expand in Asia and other growth markets gets further strengthened," he added.
The Pro series of trucks are being launched in a phased manner with Pro 1000 and Pro 3000 series already being introduced in the country.
The Pro Series trucks will gradually replace the company's existing truck range with gross weight between 5 and 49 tonnes.
The range has been developed and manufactured as a result of synergies between Volvo and Eicher Motors.