Volvo Expands in Karnataka: Boosting Local Economy and Employment

Volvo is expanding its Hoskote manufacturing plant in Karnataka, investing Rs 1,400 crore. This expansion aims to increase production capacity and create jobs. The deal was signed in presence of Chief Minister Siddaramaiah. Volvo's efforts promise economic growth for the region, supporting Karnataka's role in global supply chains.

Sweden-based Volvo has announced a significant expansion of its manufacturing plant in Hoskote, near Bengaluru, with an investment of Rs 1,400 crore. This strategic move is poised to enhance the state's economic landscape and create new employment opportunities.

The agreement, signed during Invest Karnataka-2025, involved Chief Minister Siddaramaiah, who pledged state support for Volvo's endeavors. Minister for Large and Medium Industries M B Patil was also present to witness the signing, which underscores the state's commitment to fostering industrial growth.

Volvo CEO Martin Lundstedt highlighted the expansion's benefits, including boosting production to 20,000 buses and trucks annually and reinforcing Karnataka's position in global supply chains. The initiative is expected to fortify Volvo's investment in India and cater more effectively to the local market demands.

(With inputs from agencies.)