Published on Tue, Jul 08, 2008 at 08:35 | Source : Business Line
Updated at Tue, Jul 08, 2008 at 09:08
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Daimler-Hero venture to have high local content
The joint venture of Daimler AG and Hero Group, which today formally signed a MoU with the Government of Tamil Nadu for setting up a Rs 4,746-crore greenfield commercial vehicles facility in the State, will start with a high level of localisation — 80 per cent.
The joint venture of Daimler AG and Hero Group, which today formally signed a MoU with the Government of Tamil Nadu for setting up a Rs 4,746-crore greenfield commercial vehicles facility in the State, will start with a high level of localisation - 80 per cent.
The plant of Daimler-Hero Motor Commercial Vehicles Ltd (DHCVL) is coming up on a 400-acre plot at Oragadam, near Chennai, a growing industrial suburb, sandwiched between the two automotive hubs of Maraimalainagar and Sriperumbudur.
70,000 vehicles
From 2010, the joint venture will produce about 70,000 light and medium duty commercial vehicles.
The project will provide employment to 3,000 people and generate over 20,000 indirect jobs.
The plant of Daimler-Hero Motor Commercial Vehicles Ltd (DHCVL) is coming up on a 400-acre plot at Oragadam, near Chennai, a growing industrial suburb, sandwiched between the two automotive hubs of Maraimalainagar and Sriperumbudur.
