Daimler to invest 300 million Euros in India
car&bike Team
1 min read
Jan 06, 2014, 10:28 PM
Daimler India Commercial Vehicles Pvt. Ltd. (DICV), the 100% wholly-owned subsidiary of the world's leading truck manufacturer Daimler AG, announced the debut of the DICV manufactured FUSO FI (medium-duty) truck at the Tokyo Motor Show.
The two commercial vehicle subsidiaries MFTBC and DICV are bundling their Asia business under the umbrella of Daimler Trucks Asia with a view to reaching their joint target of 290,000 units of the FUSO and BharatBenz brands until the year 2020.
Dr. Albert Kirchmann, President & CEO - MFTBC, said: "With this investment, we will expand our existing production and assembly network in order to prepare ourselves for the demand in Asia and Africa. I am proud of the team from Japan and India, which is working hard together in order to bring the right products for the future markets on road".
The company has also announced an investment of 300 million Euros between 2014 & 2018 to boost the production and sales network of Daimler Trucks in Asia. This is over and above the existing / already planned investments.
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