Volvo Plans Truck Investments in China, India

Volvo AB is planning investments in India and China to bolster its truck business and meet demand from those markets, Bloomberg reported Monday, citing a company executive.

The truck unit’s China investments will include opening research and development centers and expanding distribution and retail, Volvo Group Senior Vice President Par Ostberg said in an interview in Singapore.

In India, Volvo plans to build plants such as one for medium-duty engines, Bloomberg reported.

Volvo is only seeing a “very small impact” on Chinese demand from rising interest rates, said Ostberg, who joined the Volvo in 1990.

Volvo AB, the parent company of Volvo Trucks North America and Mack Trucks, is scheduled to release its third-quarter earnings this week.