Hyundai Motor, Caparo Group join hands to produce luxury buses in India

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While Tata Motors and Ashok Leyland continue to dominate the commercial vehicle market, competition is hotting up with Daimler AG, Volvo, Navistar International Corp. and Nissan Motor Co setting up commercial vehicle ventures in India in the past two years.

According to the Society of Indian Automobile Manufacturers (SIAM), sales of trucks and buses gained 2.9 percent to 430,555 units between April and February.

The Hyundai Motor Company, a division of the Hyundai Kia Automotive Group, is South Korea's largest and the world's fifth biggest automaker in terms of units sold per year. The company operates the world's largest integrated automobile manufacturing facility, which is capable of producing 1.6 million units annually. It is the second largest maker of passenger vehicles in India.

Founded by Indian born British industrialist Lord Swraj Paul, Caparo Group boasts of over 1 billion turnover with business interests spanning steel, automotive and general engineering products, materials testing services, hotels, film distribution and private equity investment. The group has more than 40 companies operating at over 50 sites in the UK, North America, India and Spain and employs over 6000 people.

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