Ad

Ad

VE Commercial Vehicles to Invest ₹1,500 Crore in MP For Electric Commercial Vehicles


By Priya SinghUpdated On: 26-Feb-2025 06:19 AM
noOfViews3,021 Views

Follow Us:follow-image
Shareshare-icon

ByPriya SinghPriya Singh |Updated On: 26-Feb-2025 06:19 AM
Share via:

Follow Us:follow-image
noOfViews3,021 Views

VE Commercial Vehicles is investing in Madhya Pradesh to expand electric truck production, enhance infrastructure, and boost industrial growth in the state.
VE Commercial Vehicles to Invest ₹1,500 Crore in MP For Electric Commercial Vehicles

Key Highlights:

  • VECV is investing ₹1,500 crore in Madhya Pradesh to expand commercial vehicle manufacturing.
  • The investment will support a new R&D center, automotive parts production, and manufacturing expansion.
  • Madhya Pradesh’s new investment policy 2025 offers sector-specific incentives and regulations.
  • The Eicher Pro X electric truck facility in Bhopal will expand production.
  • VECV highlights the need for a skilled workforce, better infrastructure, and industrial growth.

VE Commercial Vehicles (VECV), a joint venture of India’s Eicher Motors and Sweden’s Volvo Group, is investing Rs 1,500 crore to expand its operations in Madhya Pradesh. The company already has manufacturing plants in Bhopal and Pithampur, Dhar district.

This investment will help to set up a modern research and development center, boost the production of automotive parts, and manufacture new commercial vehicle manufacturing units, with a focus on electric vehicles (EVs).

Leadership Insights:

Vinod Aggarwal, CEO of VE Commercial Vehicles, praised the Madhya Pradesh government’s efforts to promote automation and transparency to improve ease of business. He stated, “We plan to further invest another Rs 1,500 crore in new plants in Madhya Pradesh for commercial vehicles, specifically electric vehicles, automotive parts and assemblies, capacity expansion, and a world-class technology centre.”

He also mentioned, “The recently launched new investment policy 2025 has made Madhya Pradesh a leading industrial state by offering sector-specific incentives and simplified regulations. The state has a large land pool for industries and good power availability.”

Vinod Aggarwal emphasised the need for a skilled workforce by improving vocational training and updating educational curriculum. He also stressed the importance of expanding infrastructure, especially transport and communication networks, for better industrial connectivity. Additionally, he suggested developing industries beyond existing hubs by improving connectivity, residential facilities, and infrastructure in emerging areas.

Eicher Pro X Electric truck

With the recent launch of a dedicated manufacturing facility for the Eicher Pro X electric trucks in Bhopal, the new investment will expand Pro X truck production to meet growing logistics demand across India. This will also strengthen the company's position in the Small Commercial Vehicle (SCV) segment.

About VECV

VECV, a joint venture between Sweden’s Volvo Group and India’s Eicher Motors, has established a strong presence in India’s commercial vehicle market, especially in the light and medium-duty truck segments, where it leads the market. The new facility is part of VECV's advanced, Industry 4.0-compliant factory complex in Bhopal.

Due to changing logistics needs and environmental regulations, India’s commercial vehicle industry is shifting toward more sustainable and efficient solutions. With the rise of e-commerce and quick commerce, there has been a growing demand for vehicles suited for last-mile delivery.

Also Read: VECV Opens New Facility for Eicher Pro X Trucks in Bhopal

CMV360 Says

VE Commercial Vehicles is investing ₹1,500 crore in Madhya Pradesh to make more electric trucks and automotive parts. The state has good policies and facilities for industries to grow. The company also plans to improve skills and infrastructure to support industries. 

News


Ashok Leyland Sales Report March 2025: Reports 4% Growth in Domestic Sales

Ashok Leyland Sales Report March 2025: Reports 4% Growth in Domestic Sales

Explore Ashok Leyland’s sales growth in March 2025, with positive performance in domestic markets, especially in M&HCV truck sales....

01-Apr-25 12:07 PM

Read Full News
Atul Auto Reports Strong Sales Performance for March 2025 and FY 2024-25

Atul Auto Reports Strong Sales Performance for March 2025 and FY 2024-25

Atul Auto recorded total sales of 3,693 units in March 2025, marking an 18.06% increase from 3,128 units sold in March 2024....

01-Apr-25 10:33 AM

Read Full News
Mahindra Sales Report March 2025: Experienced Growth of 21% in Domestic CV Sales

Mahindra Sales Report March 2025: Experienced Growth of 21% in Domestic CV Sales

Explore M&M's sales report for March 2025! Mahindra's March 2025 sales grew by 21% in domestic and 163% in export....

01-Apr-25 09:22 AM

Read Full News
Daimler Buses Acquires 49% Stake in SINOS to Enhance Smart Charging Solutions

Daimler Buses Acquires 49% Stake in SINOS to Enhance Smart Charging Solutions

Daimler Buses strengthens its electrification strategy by acquiring a 49% stake in SINOS, enhancing smart charging solutions....

01-Apr-25 09:02 AM

Read Full News
SANY Launches India’s First Locally Manufactured Hybrid Mining Dump Truck

SANY Launches India’s First Locally Manufactured Hybrid Mining Dump Truck

The truck also features an intelligent control module and a 10-inch central control screen for navigation and operational monitoring....

01-Apr-25 08:30 AM

Read Full News
Eicher Trucks & Buses Hosts Second Women Transporters Delegation

Eicher Trucks & Buses Hosts Second Women Transporters Delegation

Eicher Trucks & Buses hosts women transporters, discussing logistics, EVs, and alternative fuels, promoting inclusion in the CV sector....

01-Apr-25 06:22 AM

Read Full News

Ad

Ad

web-imagesweb-images

Registered Office Address

Delente Technologies Pvt. Ltd.

M3M Cosmopolitan, 12th Cosmopolitan,

Golf Course Ext Rd, Sector 66, Gurugram, Haryana

pincode - 122002

Join CMV360

Receive pricing updates, buying tips & more!

Follow Us

facebook
youtube
instagram

COMMERCIAL VEHICLE BUYING BECOMES EASY AT CMV360

CMV360 - is a leading commercial vehicle marketplace. We helps consumers to Buy, Finance, Insure and Service their commercial vehicles.

We bring great transparency on pricing, information and comparison of tractors, trucks, buses and three wheelers.