Repositioning of the Daimler
Hero Commercial Vehicles Ltd. joint venture in India
Stuttgart/Delhi - Daimler AG and
Hero Group today together announced to dissolve the Daimler Hero
Commercial Vehicles Ltd. joint venture in India. The completion
of this transaction depends on the regular closing conditions.
Daimler Trucks to own 100% of
commercial vehicles project in India
The economic situation and the
continuing weakness in demand in India have necessitated a
repositioning of Daimler Trucks' partnership with the Hero Group
in India. In the future, the Hero Group will focus on its core
business operations and return its 40 percent stake in the two
partners' joint venture, Daimler Hero Commercial Vehicles Ltd.,
to Daimler Trucks.
Daimler Trucks' total investment
in India will amount to more than €700 million over the next
four years. The equity capital invested by Daimler so far, which
amounts to €24 million, has already been injected as direct
Daimler to continue with its
commercial vehicle engagement in India
The Indian market is clearly
defined for Daimler Trucks as a promising market future.
Growth in the commercial vehicle
segment will focus on the developing countries and emerging
markets, especially the BRIC countries.