Business News
Truckmaker Scania to invest in India
Jan 31, 2012, 11:38 GMT
Stockholm - Swedish-based truck and busmaker Scania announced Tuesday it was planning to invest about 200 million kroner (30 million dollars) in a plant in southern India.
The final assembly plant near Bangalore was expected to be completed next year and would also serve as a centre for the company's commercial operations in the Asian country, Scania said.
'The manufacturing of complete trucks locally in the country means that we can cut lead times further and broaden our product offering,' said Henrik Fagrenius, head of Scania commercial vehicles.
Scania, which is part of the Volkswagen Group, said it aimed to sell 2,000 trucks, 1,000 buses and 1,500 engines per year in India within the next five years.
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