Daimler, India's Hero Group Join to Produce Commercial Vehicles

Dec. 17, 2007

Light, medium, and heavy duty vehicles produced will be for the Indian market.

Daimler and India's Hero Group announced on Dec. 14 that they agreed to form a joint venture to produce light, medium and heavy duty commercial vehicles. Production for export markets is expected to follow at a later stage, a statement said.

A company statement quoted Andreas Renschler, head of Daimler Trucks as saying: "In Hero we have found an excellent, experienced partner with a long tradition of manufacturing and know-how of the local industry. We believe this is a strong foundation for a long-term co-operation in one of the world's most dynamic markets."

Hero Group posted sales in 2006 of four billion dollars and is already involved in a joint-venture with the Japanese group Honda to produce motorcycles.

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