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Eicher Motors is a commercial vehicle manufacturer in India. The company's origins date back to 1948, when Goodearth Company was established for the distribution and service of imported tractors. In 1959 the Eicher Tractor Corporation of India Private Ltd was established, jointly with the Eicher tractor company, a German tractor manufacturer. Since 1965, Eicher in India has been completely owned by Indian shareholders. The German Eicher tractor was partly owned by Massey Ferguson from 1970, when they bought 30%. Massey Ferguson bought out the German company in 1973.
In 2005, Eicher Motors Ltd sold their tractors and engines business to TAFE Tractors of Chennai, the Indian licensee of Massey Ferguson tractors.In October 1982, a collaboration agreement with Mitsubishi for the manufacture of light commercial vehicles was signed in Tokyo and in the same period the incorporation of Eicher Motors Limited also took place. LCVs were sold under the "Eicher Mitsubishi" brand. In February 1990, Eicher Goodearth bought 26% stake in Enfield India Ltd and by 1993 Eicher acquired a majority stake in Royal Enfield India.
In July 2008, Eicher Motors Limited and Volvo Group's formed a 50:50 joint venture called VE Commercial Vehicles which designs, manufactures and markets commercial vehicles, engineering components and provides engineering design.
At present, Volvo Group owns 45.6% of VECV, although there are 122 other institutional investors on record. In 2020 VECV bought Volvo Buses India operations for ?100 crores.
