About: BharatBenz   Sponge Permalink

An Entity of Type : dbkwik:resource/41M8fembgW4ejRUqT-lkRA==, within Data Space : 134.155.108.49:8890 associated with source dataset(s)

In 2008, Daimler AG planned to enter the Indian market in a joint venture with Hero group to build medium and heavy commercial vehicles. A joint venture named Daimler Hero Commercial Vehicles (DHCV) formed under memorandum of understanding (MOU) in July 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. The strategy for the brand will be to build light trucks based on Daimler's Fuso Canter platform and heavier trucks based on the Mercedes-Benz trucks platform.

AttributesValues
rdf:type
rdfs:label
  • BharatBenz
rdfs:comment
  • In 2008, Daimler AG planned to enter the Indian market in a joint venture with Hero group to build medium and heavy commercial vehicles. A joint venture named Daimler Hero Commercial Vehicles (DHCV) formed under memorandum of understanding (MOU) in July 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. The strategy for the brand will be to build light trucks based on Daimler's Fuso Canter platform and heavier trucks based on the Mercedes-Benz trucks platform.
sameAs
Products
dcterms:subject
foaf:homepage
dbkwik:tractors/pr...iPageUsesTemplate
num employees
  • 1400(xsd:integer)
Foundation
  • 2011-02-17(xsd:date)
Company Name
  • BharatBenz
Key people
  • Marc Llistosella
Industry
Parent
Website
company logo
  • 200(xsd:integer)
Location
  • Chennai, Tamil Nadu, India
abstract
  • In 2008, Daimler AG planned to enter the Indian market in a joint venture with Hero group to build medium and heavy commercial vehicles. A joint venture named Daimler Hero Commercial Vehicles (DHCV) formed under memorandum of understanding (MOU) in July 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 an economic downturn in India. Hero group decided to focus on core operation and return the 40% stake in DHCV joint venture to Daimler AG. With 100% stake Daimler Ag renamed DHCV as Daimler India Commercial Vehicles (DICV). The launch of the BharatBenz brand was announced on 17 February, 2011 by Daimler AG Chairman Dieter Zetsche. The decision to launch the brand was prompted by Daimler's determination to compete in the fast-growing Indian market against dominant Indian brands, such as Tata Motors, and Indian ventures of other leading global truck manufacturers, such as Mahindra Navistar, Volvo Eicher, etc... The strategy for the brand will be to build light trucks based on Daimler's Fuso Canter platform and heavier trucks based on the Mercedes-Benz trucks platform.
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