Volvo to expand manufacturing facility in Hoskote with ₹1,400 crore investment

Sweden-based Volvo, known for its bus and truck manufacturing, has announced plans to expand its manufacturing facility in Hoskote with an investment of ₹1,400 crore. The company signed a Memorandum of Understanding (MoU) with the Karnataka government.

The MoU signing took place at Chief Minister Siddaramaiah’s official residence, Cauvery, in the presence of Large and Medium Industries Minister M.B. Patil. The agreement was signed on behalf of the state government by Selvakumar, Principal Secretary, Department of Industries, while Volvo India’s Managing Director, Kamal Bali, represented the company.

The expansion aims to enhance Volvo’s production capabilities in India. The investment is expected to generate employment opportunities and contribute to the region’s industrial growth.

Officials stated that the facility’s development will align with the company’s long-term strategy in India. Additional Chief Secretary to the Chief Minister, L.K. Ateeq, and Industries Department Commissioner, Gunjan Krishna, were also present at the signing.

The government has assured necessary support to facilitate the expansion process. Further details on the project timeline and implementation will be announced in due course.

The expansion is expected to boost local manufacturing, with a focus on sustainable and advanced vehicle production. Volvo plans to integrate cutting-edge technology and eco-friendly practices into its facility, reinforcing Karnataka’s position as a key industrial hub.

Industry experts believe this investment will strengthen the state’s economy, attract ancillary businesses, and create new opportunities for skilled workers in the automotive sector.