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Tag: Volvo Group

Eicher Motors acquires Volvo Group India
13Aug By PriyankaNo Comments
Automobile

Eicher Motors acquires Volvo Group India

New Delhi, Aug 13, 2020: Eicher Motors subsidiary VE Commercial Vehicles has entered into a business transfer agreement to acquire Volvo Group India's bus business for a cash consideration of around $13 million (Rs 100.50 crore). VE Commercial Vehicles Ltd (VECV) is in the business of manufacturing and selling the Eicher branded trucks and buses and also distributes Volvo branded trucks and provides aftermarket services and distribution of spare parts for Volvo branded trucks and buses. Apart from being a subsidiary of the company, VCEV is also a joint venture between Eicher Motors and Volvo Truck Corporation, Sweden and Aktiebolaget Volvo (Publ.), Sweden. VECV entered into a business transfer agreement on August 12 with Volvo Group India for acquisition, as a going concern on slu...
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Volvo Group Invests in Autonomous Mobility Software Apex.AI
9Dec By PriyankaNo Comments
FUNDING

Volvo Group Invests in Autonomous Mobility Software Apex.AI

Volvo Group Venture Capital AB has invested in Apex.AI, a leading software company in autonomous mobility. The investment will fund the development of a safety-certified software framework for autonomous systems. Apex.AI, a Palo Alto, California-based company founded in 2017, is building an automotive-grade version of ROS (Robot Operating System), an established open source software framework commonly used in robotics and autonomous systems research. By providing a safer and more reliable version of ROS that will be certified according to the functional safety standard ISO 26262, Apex.AI enables companies to take their autonomous vehicle projects into production. “We are excited to invest in a company that enables easier development of safety-certified systems,” says Anna Westerberg...
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