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TRUCKMAKERS NEWS * WORLDWIDE
* India - Daimler to sell Tata Motors stake
Bombay,India -Rediff Business -March 8, 2010: -- The world's largest truck maker Daimler is understood to be selling off its residual stake in Tata Motors for over $400 million... Daimler currently holds over 5 per cent stake in the country's largest auto company. According to banking sources close to the development, Citi is handling the deal... When contacted, both Citi and Tata Motors spokespersons declined to comment. Daimler officials in Germany and India did not respond to queries via mails and text messages on the development... Currently, Daimler sells its Actros range of trucks in the country and is setting up a new commercial vehicle manufacturing facility in Chennai...* India - 'We'll save up to Rs 50,000 per vehicle from Pantnagar'
Chennai,India -Rediff Business -March 8, 2010: -- Chennai-based Ashok Leyland Ltd, the second largest truck maker in India, has inaugurated an integrated manufacturing facility at Pantnagar, Uttarakhand. This unit, in which Rs 1,500 crore (Rs 15 billion) have been invested, is the company's seventh... ALL hopes to increase sales by 38 per cent next financial year and also expand its market share to 30 per cent, selling 90,000 vehicles in India and abroad. R Seshasayee managing director, spoke to Business Standard about the company's plans... (Image from dancewithshadows: Ashok Leyland's truck)
* Brazil - BNDES Bank Lends Mercedes A Hand
Sao Paulo,SP,Brazil -Dow Jones/The WSJ (USA) -5 March 2010: -- Brazil's National Development Bank, BNDES, signed a 1.2 billion real ($674 million) loan agreement with Mercedes-Benz that will help the division of German auto maker Daimler AG keep its market-leading position in the Brazilian large truck and bus market... The money is going to Mercedes's large truck and bus unit, a vehicle market that isn't as big as Brazil's passenger car market but promises to grow by around 15% this year to a little over 120,000 units in Brazil, Mercedes's local president, Jurgen Ziegler, said...
* China - JAC to break ground in Vietnam
Hefei,China -People's Daily Online -March 10, 2010: -- Anhui Jianghuai Automobile Co Ltd (JAC), will start construction on its first overseas plant to produce trucks in Vietnam in April, the company chairman said on Tuesday... The plant, a joint venture with Vietnamese partners, will mainly produce medium- and light-duty trucks, Zuo Yan'an, chairman of the company said... JAC Motors also said last year that it was considering establishing a manufacturing base in Brazil... JAC has also worked to develop clean energy vehicles. The company's clean energy bus has already been put into commercial use, and the firm is now doing research and development on green cars...
Labels: truckmakers' news worldwide
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