Daimler India Commercial Vehicles, the BharatBenz maker and Daimler Truck subsidiary, has signed a non-binding facilitation memorandum of understanding with the state of Tamil Nadu for a proposed Rs40bn investment. The commitment would bring DICV's total investment in India to over Rs145bn. The funds are earmarked for BharatBenz product development, manufacturing, research and development, infrastructure and technology readiness, with the initiative expected to generate roughly 400 jobs over the proposed timeframe. DICV runs a 400-acre integrated manufacturing and R&D site at Oragadam, near Chennai, where it employs more than 4,000 staff and works with over 400 local suppliers. The company sources around 92% of BharatBenz product value from its Indian supplier network and has exported more than 75,000 trucks and buses along with over 330 million parts to upwards of 70 markets.
Daimler Truck Holding AGDaimler Truck's subsidiary plans Rs40bn investment in India, expanding operations and signaling growth.
DICV signs MoU for Rs40bn investment in Tamil Nadu, boosting its India operations and job creation.
