Daimler to invest $420m in Indian venture

Daimler is joining throngs of other automakers, including Navistar, Nissan and Volvo, to establish India as one of the largest builders of commercial trucks in the world. Its newest venture involves a partnership between Daimler AG and India's Hero Group (great name!), with Daimler investing some $420 million for a 60-percent stake in the India-based manufacturer. The venture will involve the creation of light-, medium- and heavy-duty trucks in one of the world's burgeoning production centers that's still got a lot left to build, and although company officials at both corps remained mum on details, expect things to be firmed up in the first quarter of 2008.
[Source: Economic Times via Automotive News – Sub. Req.]

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