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Daimler to invest $969 mln in India truck unit

Daimler to invest $969 mln in India truck unit
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First Published: Thu, Mar 18 2010. 06 28 PM IST
Updated: Thu, Mar 18 2010. 06 28 PM IST
Mumbai: Daimler AG’s India unit said it planned to invest Rs44 billion ($969 million) over the next five years on its truck making facility in Chennai.
Daimler India Commercial Vehicles Pvt Ltd unveiled on Thursday a test track for the trucks it planned to start producing from the middle of 2012, it said in a statement.
The company will make light, medium and heavy-duty trucks ranging from 6 tonnes to 49 tonnes at the 400-acre Oragadam facility that will have capacity to make 70,000 units annually.
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First Published: Thu, Mar 18 2010. 06 28 PM IST