BharatBenz
In 2008 Daimler AG planned to enter into Indian market in Joint Venture with Hero group to build medium and heavy commercial vehicles. Joint venture named Daimler Hero Commercial Vehicles (DHCV) formed under memorandum of understanding (MOU) in Jul 2008 with 60% holding of Daimler AG and 40% holding of Hero group. Marc Llistosella was identified as CEO for the company while Amit Chaturvedi as Co-CEO. Daimler AG and Hero Group announced to dissolve the Daimler Hero Commercial Vehicles Ltd. joint venture on April 15, 2009 because of economic downturn in India. Hero group decided to focus on core operation and return back the 40% stake in DHCV joint venture to Daimler AG. With 100% stake Daimler Ag renamed DHCV as Daimler India Commercial Vehicles (DICV).
Daimler’s Indian subsidiary Daimler India Commercial Vehicles (DICV) was formed on 17 February 2011. The new plant is located in Oragadam, near Chennai in Southern India. According to Daimler, the Bharat part of the name means “India” in the various national languages, and has been chosen to reinforce Daimler Trucks’ commitment to serving the local market. There is a wide range of trucks ranging from 6 to 49 tons across various applications. The first truck was presented to journalists on 4th January 2012, while the official presentation of the model range was held on 2nd March.
