VE Commercial Vehicles Limited
VE Commercial Vehicles Limited, commonly referred to as VECV, is a prominent player in the Indian automotive industry, headquartered in Gurgaon, India. Established in 2008, the company is a joint venture between the Volvo Group and Eicher Motors, focusing on the manufacture of commercial vehicles. VE Commercial Vehicles operates primarily in the heavy-duty truck and bus segments, offering a diverse range of products that include trucks, buses, and engines. Known for their innovative engineering and commitment to sustainability, VE Commercial Vehicles stands out with its advanced technology and fuel-efficient solutions. With a strong market presence in India and expanding operations in international markets, VE Commercial Vehicles has achieved significant milestones, including numerous awards for safety and environmental performance, solidifying its position as a leader in the commercial vehicle sector.
DitchCarbon Score
How does VE Commercial Vehicles Limited's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Motor Vehicle Retail Services industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
VE Commercial Vehicles Limited's score of 29 is higher than 60% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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VE Commercial Vehicles Limited's reported carbon emissions
In 2023, VE Commercial Vehicles Limited reported total carbon emissions of approximately 20,376,010 kg CO2e for Scope 1 and about 66,627,410 kg CO2e for Scope 2, resulting in a combined total of around 87,003,420 kg CO2e. This marks a reduction from 2022, where Scope 1 emissions were about 23,089,210 kg CO2e and Scope 2 emissions were approximately 50,381,170 kg CO2e. The company has demonstrated a commitment to reducing its carbon footprint, particularly in Scope 2 emissions, with a target to convert 78% of its electricity use to renewable energy by 2024. This initiative aims for an 83% reduction in Scope 2 emissions from 2019 levels. VE Commercial Vehicles Limited's emissions data is cascaded from its parent company, Eicher Motors Limited, reflecting a corporate family relationship. The company has not disclosed any Scope 3 emissions data. Overall, VE Commercial Vehicles Limited is actively working towards significant climate commitments, aligning with industry standards for sustainability and emissions reduction.
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| 2021 | 2022 | 2023 | |
|---|---|---|---|
| Scope 1 | 21,352,860 | 00,000,000 | 00,000,000 |
| Scope 2 | 39,973,840 | 00,000,000 | 00,000,000 |
| Scope 3 | - | - | - |
Industry emissions intensity
Location emissions intensity
Reduction initiatives & disclosure networks
Companies disclose and commit to reducing emissions to show they are serious about reducing emissions impact over time. They can also help a company track its progress over time.
VE Commercial Vehicles Limited is not participating in any of the initiatives that we track. This may change over time as the company engages with new initiatives or updates its commitments. DitchCarbon will update this information as it becomes available.
