Daimler Hero Motor Corp. JV established

July 2008
Trailer / Body Builders;Jul2008, Vol. 49 Issue 9, p9
Trade Publication
The article reports on the establishment of a joint venture (JV) called Daimler Hero Motor Corp. Ltd. by the Hero Group and Daimler AG in Delhi, India in March 2008. The joint venture will manufacture light-, medium- and heavy-duty commercial vehicles for the Indian volume market under a different brand name. Daimler Hero aims to achieve a localization rate of up to 80%. Daimler and the Hero Group are planning to invest $566.7 million in the JV over the next five years.


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