Eicher Motors' arm VE Commercial Vehicles (VECV) has agreed to acquire Volvo Bus India (VBI) for ₹100.5 crore. Upon completion of the transaction, VECV and VBI will consolidate their bus businesses into a new bus division within VECV. "This division will offer Volvo and Eicher branded buses, and maximise synergies to capitalise on market opportunities," said VECV Chairman Siddhartha Lal.