India`s Eicher Motors and joint venture (JV) partner, Swedish truck-maker Volvo, are planning to launch two new heavy-duty commercial vehicles in couple of years, reports Economic Times.
The joint venture, called VE Commercial Vehicles (VECV) includes Eicher`s commercial vehicles business along with its engineering components and engineering solutions businesses, besides Volvo`s India truck sales and distribution network.
The joint venture plans to introduce a new 6X4 tipper and a 6X4 tractor trailer within 18-24 months.
Eicher Motors, which lags rivals Tata Motors and Ashok Leyland in sales, currently holds about 2.5% market share in the heavy-duty market.
In VECV, Eicher products will continue to be manufactured at its Pithampur plant, near Indore in Madhya Pradesh. The plant has a capacity of 180 vehicles a day.
In addition to VECV, which is a step-down subsidiary of the company, Eicher is now left with its Royal Enfield motorbike division.
Eicher Motors is coming up with two new Royal Enfield models aimed at the international markets. The first is scheduled to be launched in October, and the second by December.
The joint venture will also leverage Volvo`s global distribution network to export the Eicher brand of vehicles to developing countries.
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