Take context from the input text and decide on the accurate relationship between 'Volvo' and 'Volvo Buses' from the options provided.
Options: original broadcaster, industry, subsidiary, distributed by

"We will be the first bus company to export to the European market from India, taking advantage of lower manpower costs and neutral duty," Volvo Buses Corporation president Hakan Agnevall told reporters Volvo entered India 15 years ago, ostensibly to foray into high-end truck segment, but got into the luxury buses with first move advantage as domestic rivals Tata Motors and Ashok Leyland have been contended rolling out ordinary buses for cities and semi-luxury coaches for inter-city and inter-state routes.
subsidiary