Daimler Hero Motor to invest $1.1 billion on expansion

Daimler Hero Motor to invest $1.1 billion on expansion

Daimler has announced that they along with Hero Group of India would invest around $1.1 billion in the next five years on expansion in the South Asian market.

Daimler Hero Motor is scheduled to start manufacturing trucks by 2010. They would initially sell them in the Indian market.

They are aiming to start exporting the trucks to other markets in the following years.

Volvo AB, MAN AG and Navistar International are other companies which are collaborating together to start production of commercial vehicles in the region.

Andreas Renschler, Daimler director and head of Daimler Trucks said in a statement on the new developments: “This is one of the fastest-growing markets for commercial vehicles. India is developing its transport infrastructure, including the highway development program, which will in turn create demand for trucks.”