Daimler, Kamaz Unveil Joint Truck Venture

Daimler and Russian counterpart Kamaz said on October 1 they would form a joint venture to build and sell Mercedes-Benz trucks in Russia.

The two companies plan to produce trucks "in Russia in the near term" and to also sell Mercedes-Benz and Setra busses.

Daimler bought a 10% stake in Kamaz in December 2008, and the Russian company has also agreed to cooperate with Daimler's Mitsubishi Fuso unit in the importation and production of Fuso trucks in Russia.

The statement quoted Hubertus Troska, head of Mercedes-Benz Trucks, as saying that "Kamaz is an ideal partner for us since the company has many years of experience in the Russian truck market and is market leader in the heavy duty truck market."

Copyright Agence France-Presse, 2009