Daimler Plans To Set Up Plant Near Chennai

Daimler Plans To Set Up Plant Near Chennai Daimler Commercial Vehicle India Ltd has announced that it will establish a facility near Chennai to produce commercial vehicles.

The company stated that it would make an investment of Rs 4,400 crore by the next five years to make light, medium and heavy commercial vehicles.

Marc Llistosella, chief executive of the company, made this announcement after inaugurating a truck testing facility of the firm.

Marc added that the upcoming facility will have an initial production capacity of 36,000 units during the initial stage, which will be lifted up to 75,000 units.

Llistosella also said that the company was in search of partners for the project and could consider a joint venture. But the JV associate should be someone who would add value to the project, he added.

Previously, Daimler had a plan with the Hero group to establish a similar facility that did not take off. (With Input from Agencies)