Daimler to invest ₹4,000 cr in TN; total India investments to touch ₹14,500 cr

Daimler India Commercial Vehicles (DICV) has proposed to make an additional investment of about ₹4,000 crore in Tamil Nadu, taking its total investment in the country to ₹14,500 crore.

The additional investment, which comes as part of its next phase of BharatBenz growth in India., is expected to support product development, manufacturing, research and development, infrastructure and future technology readiness, while creating approximately 400 jobs over the proposed period, DICV said in a statement.

The maker of BharatBenz trucks and buses, a wholly owned subsidiary of Daimler Truck AG, said the additional investment is being outlined under a “non-binding Facilitation Memorandum of Understanding (MoU)” signed with the Tamil Nadu government at the Tamil Nadu Investment Conclave.

Expressing confidence in the next phase of the country’s commercial vehicles growth; DICV  Managing Director & CEO Torsten Schmidt said “as infrastructure, logistics, mining, construction and passenger mobility continue to expand, Indian customers need trucks and buses that deliver higher uptime, safety, reliability and operating efficiency. Through BharatBenz, we are strengthening products, localisation, service readiness and parts availability for India, while also reinforcing the country’s role as an important manufacturing and supply base within Daimler Truck’s global network.”

Since its market launch in 2012, BharatBenz has placed more than 2.2 lakh trucks and buses on Indian roads, serving a wide range of sectors, including freight transportation, construction, mining, logistics and passenger mobility.

DICV’s 400-acre integrated manufacturing and R&D facility in Oragadam, near Chennai, employs more than 4,000 people and is supported by over 400 local suppliers. According to the company, as much as 92% of the value of BharatBenz products is localised through its extensive Indian supplier ecosystem.