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 [...]
Aabar Investments acquires a stake in Daimler
Mercedes Benz maker Daimler has announced that they are selling a stake in the company to the Abu Dhabi state investment fund Aabar Investments.
Aabar Investments has invested 1.95 billion euros in the company to get a 9.1% stake.
The deal is likely to be approved at the annual [...]
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 [...]
Mercedes Benz aims to overtake BMW in China
Mercedes Benz has said that they are aiming to overtake BMW in the Chinese market in terms of sales.
The company has just launched their GLK small SUV in the Chinese market.
BMW has been selling their cars in China for a longer period and that gave them the early [...]
Daimler and Hero group venture gets approval from Indian government
The Union Cabinet has now given its approval to the proposed joint venture between Daimler and the Hero group.
The two companies had announced last year that they were going to collaborate on manufacturing light, medium and heavy commercial vehicles for the Indian market.
The government has now [...]
Daimler to use lithium-ion technology in automobiles
Market sources say that automaker Daimler is working on a new technology for their hybrid version of its Mercedes-Benz cars.
The company seems to be working on using lithium-ion technology to develop the next generation of batteries for the S 400 BlueHYBRID.
Daimler Board of Management member Thomas Weber spoke about [...]
Daimler AG close to announcing a Truck Deal for India
Daimler AG has said that they are very close to announcing a deal with an Indian partner to start manufacturing trucks for the Indian market.
A company executive said in a statement on the developments: “In India, we are very close to an announcement. We have found [...]
