German auto major Daimler today inaugurated its new bus manufacturing facility at Oragadam, near Chennai. The company invested Rs 425 crore in the new facility.
The facility is located within the existing premises of Daimler India Commercial Vehicles Pvt Ltd (DICV) and will manufacture and assemble buses under two brands— Mercedes-Benz and BharatBenz.
The capacity of the plant would be 1,500 units and can be expanded to 4,000 units subsequently.
The company also made a premiere of new BharatBenz 3143 as first local deep mining trucks and BharatBenz 4940 as local heavy duty tractor.
Wolfgang Bernhard, memer of the Board of Management responsible for Daimler Trucks and Buses, said the company is opening a new chapter of growth with the new launches. "This investment represents the ongoing pursuit of company's strategy of targeted expansion of company's global market presence," he said.
DICV is a 100 per cent subsidiary of Daimler AG.
The company-built FUSO trucks from Oragadam are exported to markets in South East Asia, Africa and Latin America.