Delhivery on Friday announced that it had received the 325th tractor-trailer from Volvo India on April 26 in Bangalore.
What Happened: Both companies in a joint statement released today informed about the delivery of the tractor-trailer. Volvo Trucks India, a division of VE Commercial Vehicles -a joint venture between the Volvo Group and Eicher Motors– also added that it has received a Letter of Intent for 200 more units from the e-logistics player, taking the overall Volvo fleet at Delhivery over 500.
See Also: India’s Smartphone Shipments See Sharp Decline As Demand Plummets In First Three Months Of 2023
The two companies first joined hands in 2019. Roger Alm, President, Volvo Trucks Corporation said that the company, “looks forward to jointly driving more sustainable transport solutions in India.”
Sahil Barua, Managing Director, and Chief Executive Officer, Delhivery, said, these tractor-trailers are critical
to Delhivery’s mid-mile strategy and “go a long way in making the company’s delivery network highly efficient and more sustainable.”
On the bourses, Delhivery shares have had a good past few weeks. Delhivery share price is up around 17% in the past month.
Price Action: Delhivery share price was down 1.12% to trade at ₹373.05 in the late hours of trading on Friday.
Do not miss: When Will Nykaa Share Price Go Up?
Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.