Volvo plans to invest up to Rs. 700 crore in 5 years in India.

Swedish commercial vehicles major Volvo plans to invest around Rs. 500-700 crore in India in next five years to expand business activities in the country.

'Our capital expenditure is always spread over a period of 3-4 years. So, we have already invested close to Rs. 1,000 crore over the last one decade. There is a plan to invest Rs. 500-700 crore in the next five years,' Kamal Bali, Volvo India Managing Director told PTI on the sidelines of Hero Mindmine Summit.

When asked about the investment plans, he said it would be for 'segments like buses, trucks, construction equipment and financial services'.

The company makes premium trucks for specialised sectors like mining, buses and all kind of construction equipment across its three manufacturing sites in Bangalore.

ET