India, May 21 -- Eicher Motors on Thursday announced its entry into the financial services segment through a new joint venture with Volvo Group.
The company's board has approved an investment of up to Rs 750 crore to acquire a 50 percent stake in Volvo Financial Services India as part of the proposed equal joint venture.
Eicher Motors and Volvo Group already operate a commercial vehicle partnership through Volvo Eicher Commercial Vehicles.
According to the company, the newly proposed venture will serve as the captive financing arm for products sold by VECV, Eicher Motors, and Volvo Group in India.
Published by HT Digital Content Services with permission from Dion Global Solutions Limited....