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VE Commercial Vehicles, a joint venture between the Volvo Group and Eicher Motors, announced on Thursday an investment of Rs 544 crore to set up a production facility for Volvo Group's 12-speed automated manual transmissions. The greenfield factory will be established at Vikram Udyogpuri Integrated Industrial Township, near Ujjain, Madhya Pradesh, the company said in a statement. The investment in automated manual transmission (AMT) production will cater to the needs of Eicher heavy-duty truck customers in India and the Volvo Group in India and select markets in the Asia-Oceania region, it added. As the global manufacturing hub for Volvo Group's 5 & 8 Litre (MDEP) engines since 2013, VECV's Pithampur factory has been a pioneer in making in India for the world, the company said. "The new investment to assemble and produce the Volvo Group AMT is built on the bedrock of this trust and technical capability. It marks another significant step towards our vision of becoming a leading CV .