VE Commercial Vehicles Limited, India's third largest truck and bus maker (Volvo Group and Eicher Motors Joint Venture) has bagged an order of 1019 units of Eicher 20.15 BS III Bus Chassis from the Gujarat State Road Transport Corporation.

This is a repeat order from GSRTC to connect intercity and rural connectivity requirement in Gujarat, the company in a statement said. VE says the new order is a testimony of the faith reposed on the Eicher brand by the Gujarat road transport authority

Mr Vinod Aggarwal CEO VE Commercial Vehicles Limited said that "The vision of our joint venture is to drive modernization in the CV space in the emerging markets and this order is just the right step in that direction adding that Eicher branded buses are gradually increasing its presence in India as it seeks a larger footprint in the fast growing emerging market and emerge as a full range bus player."

The company's market share for Eicher branded buses has increased from 7 to 10% in 2011, thanks to increase off take in a slowing bus market.

Investment has also been earmarked for setting up of an Eicher bus manufacturing plant which will take the brand to the next level of growth trajectory. The plant will have a capacity to produce 10,000 buses when fully operational.

Source - Money Control

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