Sweden's Volvo AB has launched a new range of buses specifically designed for growth markets as it tries to grab market share in emerging economies.
The buses, produced under its UD brand, will be made in Bangalore and first sold in India before being shipped to other markets in coming years, reports MarketWatch.
"By introducing a new bus range, we are offering growth market customers a product that has been developed to meet their specific needs," said Volvo chief executive Olof Persson. "Just as we have done on the truck side of our business, we are positioning our buses according to customer segments in order to cover as much of the total accessible market as possible."
The company said the move will expand its customer base, improve competitiveness, and capture growth opportunities in India and other growth markets.
The first buses will reach customers later this year.