VE Commercial Vehicles (VECV), the truck and bus making company of Eicher Motors, has signed an agreement to buy the bus division of Volvo Bus India for Rs 100 crore. VECV is a joint venture between Volvo Truck Corporation and Eicher Motors. The transaction will lead to a new bus division comprising Eicher and Volvo bus business. The transfer agreement with Volvo Group India is for manufacture, assembly, distribution and sale of the Volvo buses in India.