Hero Group gets out of Daimler joint venture
April 15th, 2009 Leave a comment Visited 33 times, 2 so far today
Hero Group gets out of Daimler joint venture
India’s Hero Group has announced that they are getting out of their joint venture established with Daimler.
The collaboration was aimed to start manufacturing trucks in the Indian market.
Hero Group said that they decided to end their venture due to slowing down global economy.
Hero Corporate Services Chairman Sunil Kant Munjal had this to say: “We are disengaging from the joint venture, but the company will continue to exist and run by Daimler. The reason for it is the current economic slowdown and we would not like to commit such big investment in the circumstances.”
Automobiles, Automobiles, Daimler, Hero, Hero Group, India, joint venture, Sunil Kant Munjal, Trucks
Manuj Kumar
Category: Uncategorized
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