"Volvo" is a Latin word meaning "roll" - and has become synonymous with trucks and high quality buses in several countries. Established in Sweden in 1927, Volvo has now become a truly global company, with operations in more than 20 countries, and almost 90 percent of its revenues come from international operations. Volvo India Private Limited was established in 1998 as a subsidiary of Volvo, Sweden. The company has its manufacturing plant in Hoskote near Bangalore, where it mounts heavy commercial vehicles. Established with an investment of around US $ 70 million, the plant currently operates at 1000 units of capacity in a one-shift operation. Increasing the number of shifts can further increase this capacity. The company introduced its first FH12 truck model in the Indian market in 1998. However, even before the trucks started production, Volvo had already begun sales operations with its Volvo Penta and Volvo Construction Equipment business units. In 2001, the company introduced its first bus model in India, Volvo B7R, thus becoming a full-fledged transportation solutions provider. In the last 5 years Volvo in India has introduced 4 new truck model platforms, a range of construction equipment and engines and recently updated the Volvo B7R bus. In 2001, Volvo globally revised its product range and introduced the new generation of FM trucks. These were introduced in India in early 2003.