Not many people knew that TATA the biggest automaker in India especially in CV segment and Daimler AG the parent of Mercedes Benz had a relationship that started over 50 years back in 1954. TATA had an agreement with Daimler to assemble LCV range of Mercedes benz that lasted for 15 years. TATA build the cars for Mercedes till 2001 when Daimler started looking seriously in to Asia and India market.
Daimler sold all of its 5.3 % stake in TATA motors that is bought by TATA sons the holding company owned by promoters and CITI BANK Mauritius.
Daimler (link)has plans to launch its own CV on Indian roads by 2012. the initial talks with Hero group fell apart after the latter decided to focus on its niche 2 wheeler segment and Daimler decided to land in the market alone. TATA motors in the market leader in CV. TATA that bought Jaguar and Landrover brands compete with Mercedes segments.
Wednesday, March 10, 2010
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