Daimler to put in over `2.2K cr in TN plant

Daimler India Commercial Vehicles (DICV), the Indian arm of global auto giant Daimler, has signed a memorandum of understanding with the Tamil Nadu government to invest Rs 2,277 crore to expand its commercial vehicle production at their Oragadam plant, near Chennai.

This investment will create over 400 jobs.

“This is the second MoU that DICV has signed with the Tamil Nadu government. It demonstrates our unshakeable confidence in the long-term potential of India as a market for commercial vehicles, and our ongoing commitment to the country as a whole,” Satyakam Arya, managing director & CEO at DICV, said.

The Stuttgart-based auto-maker Daimler established its Indian subsidiary in 2009 and launched its made-forIndia CV brand BharatBenz in 2012.

It has sold over 100,000 trucks and buses both in India and abroad.