Daimler India Commercial Vehicles, subsidiary of Daimler, Germany, has relaunched itself in the Indian market.
India's rapidly ageing truck fleet, with 42% of vehicles over 12 years old, is set to trigger a replacement-driven growth of 3-5% annually over the next five years.
From the new facility, buses would be rolled out from the second quarter of 2015
Germany's Daimler AG, known for its luxury cars and high-end commercial vehicles, has pulled out of the race to acquire a strategic stake in the Delhi-based commercial vehicles maker Eicher Motors.
Daimler would introduce lightweight trucks from Mitsubishi Fuso stable in the Indian market by 2010 as part of its expansion strategy in the country's auto mart.
Daimler, world's largest manufacturer of commercial vehicles, had reached an understanding in December 2007 for establishment of a joint venture with Munjal family-promoted Hero group, a leading Indian business house with presence in automotive manufacturing, auto parts and services sector.
By designing trucks just for the Indian market, the vaunted German auto maker is about to start what analysts are calling a 'bloodbath' in the industry.
The company will start manufacturing commercial vehicles by 2010. The new company is aiming to achieve a localisation rate of up to 80 per cent. The production of commercial vehicle for export to other emerging markets will also be launched thereafter. The two companies signed a joint venture agreement on Monday to float a company Daimler Hero Motor Corporation, in which the German company will have 60 per cent stake and the rest with Hero.
German auto maker Daimler Trucks has zeroed in on the Munjals of Hero Honda for a joint venture to make commercial vehicles in India. The announcement is expected before Christmas. According to sources, Daimler has been directly involved in talks with the Munjal family.
Skoda Auto, Volvo Cars and Daimler India Commercial Vehicles are not participating in the Expo.
The industry said if the policy was announced, it would have taken 28 million vehicles bought before March 2005 off the road.
The COVID-19 case fatality rate stood at 1.44 per cent.
Production at every automotive facility, offices of information technology firms and retail establishments in the state remained shut on Tuesday as a mark of respect to the late chief minister.
New age diagnostic tools come in handy for BharatBenz to predict repair needs and breakdown in advance.
The traffic tells a story. During the lockdown, it took 45 minutes to zip through the deserted 35-km stretch from Chennai to reach the automobile heart of Sriperumbudur-Oragadam, where the big names of the car industry - Hyundai Motor India, Renault-Nissan India, Daimler India Commercial Vehicles, Apollo Tyres, and Royal Enfield - are based.
Cummins India will soon start producing fuel-agnostic engine systems at the Tata-Cummins plant in Phaltan in Satara district of Maharashtra, senior officials at Cummins India said. The firm will start limited production by the end of 2023 and mass production will likely begin by 2024, the officials said.
Luxury carmaker DaimlerChrysler India said on Wednesday that its profit dipped by over 10 per cent in calendar 2003 even as it announced to launch more models this year.
Tamil Nadu has cornered around 18.63 per cent of the fresh investments in Q1FY21 and topped the list of state-wise investments. These investments should help create over 67,212 jobs.
Even as domestic passenger car sales declined 29.4 per cent between April and August this year, exports grew 6.5 per cent, partially cushioning the blow from slowing sales.
Schools closed for a day, crops damaged; more downpour on cards
JLR is developing its own autonomous car technologies, which could one day trickle into Tata's more affordable people carriers.
Finance Minister Nirmala Sitharaman on Tuesday unveiled a Rs 39.45 lakh crore Budget with a view to fire up the key engines of the economy to sustain a world-beating recovery from the pandemic. This was Sitharaman's fourth Budget. While the taxpayers were left in the lurch, once again, was she able to cheer Corporate India?
Tata Motors group's investment for this fiscal is pegged at Rs 28,900 crore, mostly for its British arm Jaguar Land Rover (JLR), company chairman N Chandrasekaran said on Friday. The company will also look to raise capital separately for its electric vehicles (EV) business at an appropriate time. It is looking to have 25 per cent of its sales coming from EVs in the medium to long term, up from 2 per cent at present, he said while addressing the company's virtual AGM.
Logistics, due to road conditions, continues to pose a challenge.
Experts say poor city planning and inefficient administration turned an unusually high rainfall into a disaster.
The Maybach S650's focus on luxury would make a private jet's interiors appear pedestrian, says Pavan Lall. Does it mean it has no room for improvement?
The failed deals could be the much-needed wake-up call for the M&A space.
