Business News
Swedish truck maker Scania to make India investment
May 18, 2011, 11:00 GMT
Stockholm - Swedish heavy-vehicle maker Scania Wednesday said it planned to invest in India and has set up a special sales company, due to growing demand in the Asian powerhouse.
'Within the next five years, we expect to be able to achieve annual sales of almost 2,000 trucks, 1,000 buses and 1,500 engines,' Martin Lundstedt, head of Scania sales and marketing, said.
The new sales company, Scania Commercial Vehicles, was also to establish a plant for bodywork and fitting out of complete vehicles as well as a parts depot, the statement said.
India's economic growth, rise in exports and expansion of motorways and logistic systems were cited as contributing factors to Scania's move.
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