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Daimler and Hero Group are now jointly building trucks in India
New Delhi / Stuttgart. The joint venture is a milestone for the Daimler truck division, said board member Andreas Renschler in New Delhi. With the Hero-Group an ideal partner has been found to be successful in the fast growing Indian commercial vehicle market. The total volume of the joint venture is expected to amount to 700 million euros over the next five years. The Stuttgart-based company intends to invest around 220 million euros. Starting in 2010, Daimler Trucks plans to initially build models of light, medium and heavy commercial vehicles for the Indian market. Later it will also be produced for export. A suitable location for the planned annual production of 70,000 vehicles is currently still being sought, said Sunil Kant Munjal, head of the new Daimler Hero Motor Corporation. A total of around 2000 jobs are to be created. The conglomerate Hero founded by the Munjal family recently generated sales of more than four billion US dollars. The Hero and Honda joint venture is considered the world's largest motorcycle manufacturer. Daimler had only announced in September that it would build buses with the Indian company Sutlej Motors. Mercedes-Benz cars for the Indian market are also assembled in its own factory in the western Indian city of Pune.
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