The plant, which was inaugurated by Madhya Pradesh Chief Minister Shivraj Singh Chouhan, is the company's eighth in the state, VECV said in a statement.
VECV is one of the large investors in Madhya Pradesh with an investment of more than Rs 5,000 crore in its eight plants.
Apart from this, the company has attracted more than 100 ancillary and other suppliers for supplying the parts required in manufacture of trucks.
As a result, VECV has generated direct and indirect employment for over 30,000 people including suppliers and associates, it said.
"Apart from meeting the domestic demand, this facility will also be used for catering to new export markets thus contributing to the vision of Aatmanirbhar Bharat as well as Make in India initiatives by our commitment to Make in Madhya Pradesh," VECV MD and CEO Vinod Aggarwal said.