Daimler to build factory in India

AFP - [email protected] • 7 Jul, 2008 Updated Mon 7 Jul 2008 09:00 CEST

German auto group Daimler has chosen Chennai, southern India, as the site for a new truck plant, it said Monday.


Construction of the factory in India’s fourth-largest city is to begin in the near future, with production of 70,000 vehicles per year foreseen starting in 2010, a statement said.

Daimler operates in India via a joint venture formed recently with the Hero Group, known as Daimler Hero Commercial Vehicles (DHCV). The venture is to receive some €700 million in funds by 2013, from both companies and foreign investors, Daimler said.

It is trying to catch up with competitors that have already established a presence in the promising Indian market.

The world’s leading constructor of commercial vehicles is also looking to attain a dominant position in the Brazilian, Chinese and Russian markets.



AFP 2008/07/07 09:00

Please keep comments civil, constructive and on topic – and make sure to read our terms of use before getting involved.

Please log in to leave a comment.

See Also