Frankfurt  - German vehicle group Daimler AG said Thursday it had moved to boost its market presence in Russia, with its Mercedes-Benz trucks offshoot and Russian truck maker Kamaz planning to forge a joint venture.

Kamaz and Mercedes-Benz trucks signed a letter of intent to create the new group, which would sell Mercedes-Benz and Setra trucks and buses.

The decision to create the joint venture follows Daimler taking a 10 per cent stake in Kamaz in December last year.

"Kamaz is an ideal partner for us since the company has many years of experience in the Russian truck market and is market leader in the heavy duty truck market," said Mercedes-Benz Trucks chief Hubertus Troska.

Mitsubishi Fuso Truck and Bus Corporation, which also forms part of the Daimler group, and Kamaz signed a letter of intent to create a joint venture for the importation, production and sale of Mitsubishi Fuso trucks in Russia. (dpa)