Chennai: Aiming to be a strong player in the domestic commercial vehicle industry, the world''s largest truck maker Daimler today unveiled ''Bharat Benz'' brand and said it would invest Rs 4,400 crore in the next five years to ramp up production capacity.
India specific: Daimler India Commercial Vehicles Managing Director and CEO Marc Llistosella (left); Daimler AG and Daimler Trucks Member of the Board of Management Andreas Renschler and Chairman of the Board of Management of Daimler AG and Head of Mercedes-Benz Cars Dieter Zetsche (right) at the unveiling of exclusive brand for its trucks in India.
The brand would offer Indian customers an entire range of trucks from six to 49 tonne across various applications from next year.
Stating that this is the fifth brand for the German automaker, Daimler Trucks and Buses Head- Andreas Renschler said, "We are launching a brand for the middle market segment that plays to win. This segment is expected to grow as much as 80 per cent of the Indian truck market till 2020. That will be a game changer".
"We aim for a localisation rate of over 80 per cent in materials we use. And of course, Daimler India relies mainly on local talent. We want to sell trucks that are made in India, for India, by our excellent team from India..", he said after unveiling the brand at a glittering ceremony in their manufacturing facility at Oragadam near here.
The company would invest Rs 4,400 crore over five yeas to manufacture trucks with an initial capacity of 36,000 units.
Asked if they would tie-up with a local partner to make trucks, he said the company was "mature" enough to go it on its own. "We are mature enough today, and we do not need to have a local partner", he reiterated.
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