To meet the needs of its global operations in France, Brazil, Sweden and the US.Industry experts view Volvo's move as an effort to vie with the Japanese auto industry that is increasingly interested in the Indian market.
"Global sourcing in India is undertaken by our purchasing organization located in Europe and the US. Volvo 3P, a Volvo business unit responsible for product development, purchase and product planning, provides the local support to our global organization for sourcing from Indian suppliers. At Volvo, we strongly believe India is increasingly becoming the global hub of auto components sourcing," said Eric Leblanc, managing director, Volvo India.
Mr Leblanc added that Volvo 3P intends to support the company's strategic expansion in Asia apart from helping its main global development sites in Allentown, Gothenburg, Greensboro and Lyon.
Apparently, the company is also planning to tap the markets of Mexico, China, Brazil, Turkey and eastern Europe also to source auto components. "Volvo believes emerging markets have a strong potential to serve global demand. These markets have been identified as they are quality conscious besides offering a relative cost advantage," Mr Leblanc said.
Source:Automotive Business Review
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