January 15, 2008 -- Bus maker Volvo Bus Corporation will invest Rs 800 million (US$20.4 million) to set up a bus body manufacturing plant at Hosakote, Bangalore.

The company has tied up with India's Jaico Automobiles to form a joint venture company -- Volvo Bus Body Technologies India Pvt Ltd, Volvo Bus Corporation Director Akash Passey told reporters at the 9th Auto Expo here.

The JV company would have a manufacturing capacity of 1,000 buses per year and cater to both Indian and foreign markets.

Source: Asia Pulse