Plex
Zorce Jedi Master
Joined: 01 May 2005
Posts: 9039
Location: T&T
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 Posted: Mon Dec 31, 2007 6:53 am Post subject: Daimler enters into joint venture with India's Hero Group |
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Daimler has announced that it will enter into a joint venture with India's Hero Group to produce commercial vehicles in India. The deal � worth $420 million � will see Daimler taking a 60% share in the Indian company. The deal is expected to closed during the first quarter of 2008.
According to Automotive News, the joint venture will produce light, medium and heavy-duty commercial vehicles in India.
Daimler currently produces Mercedes-Benz vehicles in India and recently entered into a joint venture with Sutlej Motors to produce buses in India.
Several other automakers have similar deals in India, including Nissan, Volvo and Navistar � International's parent company.
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