08-11-2016, 12:05 PM
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VE Commercial Vehicles Limited is a joint venture between the Volvo Group (Volvo) and Eicher Motors Limited (EML). It is a partnership that brings together Global leadership in technology, quality, safety and environmental care, along with the deep knowledge and understanding of the Indian Commercial Vehicle (CV) market. VE Commercial Vehicles Limited. (VECV) owes its inception to the compelling intent of driving modernization in commercial transportation, in India and other developing markets.
In 2005 Eicher Motors Ltd sold their tractors and engines business to TAFE Tractors (Tractors And Farm Equipment Ltd) of Chennai, the Indian licensee of Massey Ferguson tractors.
In October 1982 a collaboration agreement with Mitsubishi for the manufacture of Light Commercial Vehicles was signed in Tokyo and in the same period the incorporation of Eicher Motors Limited also took place. In February 1990, Eicher Goodearth bought 26% stake in Enfield India Ltd and by 1993 Eicher acquired a majority stake (60% equity shareholding) in Royal Enfield India.
In July 2008, EML and Volvo Group's 50:50 joint venture VE Commercial Vehicles (VECV) designs, manufactures and markets commercial vehicles, engineering components and provides engineering design.
ETB, completed 30 years of operations in India in the month of June 2016. The first Eicher truck was rolled out from its manufacturing plant in Pithampur, Madhya Pradesh in 1986 and over the past 29 years, the products have got endorsement from happy customers of over 400,000 vehicles.
Eicher unveiled its entire new range of future generation trucks and buses at an impressive product reveal function in Pithampur on December 2, 2013. The all new product range has been named the "Eicher Pro'' series. Adopting the most professional and holistic approach to modernise the Indian trucking industry, the new brand philosophy is to "Go Pro"; that is to give Indian trucking a truly professional offering which will lead to higher productivity, profitability and prosperity for the customer
MILESTONES
• 1948: Goodearth Company set up to sell and service imported tractors.
• 1952–57: Goodearth Company imported and sold about 1500 tractors in India.
• 1958: Eicher Tractor Corporation of India Ltd. Incorporated.
• 1959:First indigenous Eicher tractor built. Eicher came out with India’s first indigenously built tractor from its Faridabad factory.
• 1980: Eicher Goodearth Ltd. name given to Eicher.
• 1982: Collaboration agreement with Mitsubishi for the manufacture of Light Commercial Vehicles signed in Tokyo. Incorporation of Eicher Motors Ltd.
• 1985: Silver Jubilee Year for Eicher
• 1986: Eicher Motors Ltd. springs into operation
• 1987: Eicher Tractors went public
• 1990: Eicher Goodearth buys 26% equity stake in Enfield India Ltd.
• 1991: ECS launched; Eicher takes over Ramon & Demm.
• 1992: Eicher Tractors Ltd. selected as ‘Company of the Year’ for 1990–91 in the four–wheeler category comprising commercial vehicles, passenger cars, jeeps and tractors.
• 1993: Eicher adopts new identifier.Eicher acquires majority stake in Enfield India (60% equity shareholding)
• 1994: Eicher Motors Ltd. ends the technical assistance agreement with Mitsubishi after a successful transfer of technology and achieving total indigenisation. Enfield India Ltd. changed its name to Royal Enfield Motors Ltd.
• 1996: Eicher Tractors Ltd. amalgamated with Royal Enfield Motors to form Eicher Ltd.
• 2005: Eicher Motors Ltd. has disinvested the businesses of tractors and engines to TAFE Motors & Tractors Ltd. (TMTL).
• 2008: Volvo Group and Eicher Motors Ltd. established VE Commercial Vehicles Limited (VECV).
• 2010: The company launched the VE–series of Heavy Duty trucks
• 2010 – Eicher Motors launched the VE–series of Heavy Duty trucks