Heavy vehicles major Volvo on Monday said it is eyeing export possibilities from both India and China.

"We are looking at exploring and developing export possibilities from both China and India as these two markets are our biggest drivers for growth", Volvo Buses India Senior Vice President Business Region International and Chairman Rune Lundberg told reporters here.

Launching the Volvo 9400 6x2 (B9R) inter-city coach for the first time in India, he said that India and China are the two countries which are witnessing an "outstanding increase" in the volume of buses used and produced.

"There is strong volume development in India and China not only in buses but also coach business", he said.

Mega city developments, global warming and rising oil prices are some of the challenges being faced by international heavy vehicle firms, Rune said adding that its solution lies in efficient public transport system, alternative drive lines and fuels.

The new variant would be produced at Volvo buses plant in Hoskote near Bangalore. It features EBS-5 (Electronic Brake System), the first of its kind in India, and also has on-board computer display providing data on engine, brakes and suspension.