VE Commercial Vehicles, a joint venture between the Volvo Group and Eicher Motors, announced on Thursday an investment of ₹544 crore to set up a production facility for Volvo Group's 12-speed automated manual transmissions.

The greenfield factory will be established at Vikram Udyogpuri Integrated Industrial Township, near Ujjain, Madhya Pradesh, the company said in a statement.

The investment in automated manual transmission (AMT) production will cater to the needs of Eicher heavy-duty truck customers in India and the Volvo Group in India and select markets in the Asia-Oceania region, it added.

As the global manufacturing hub for Volvo Group's 5 & 8 Litre (MDEP) engines since 2013, VECV's Pithampur factory has been a pioneer in making in India for the world, the company said.

"The new

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