Swedish multinational Volvo‘s India R&D team has a global mandate to develop value segment trucks.

“Concept to design to execution is done by the Indian team. Of course, they may take some help when it comes to engines. But, they are leading the show. Some of the products this team will do will never be sold in India,” says Kamal Bali, managing director of Volvo India.

The team finds a product gap in its portfolio and decides to develop new products; a specific center is awarded the responsibility of developing a product based on its competencies and past experiences, Bali added.

Business Standard reports that Volvo, which produces trucks, buses and construction equipment, is looking to grow India revenue from $1.5 billion to $2 billion in next couple of years. “We are going to be aggressive. India is looking very bullish and all categories will grow in double digits for us. We want to improve market share and need to grow faster than the industry,” said Bali.