Daimler India Commercial Vehicles Pvt. Ltd. (DICV) has announced the departure of Mr. VRV Sriprasad as Vice President- Marketing, Sales and After-sales(AVP) wef 01 May 2014. He now takes over as Head –Aftersales & Exports. Mr. V Sreeram AVP – Sales will take-over as Head – Domestic Sales, Product Management & Network. Both heads will report to the Managing Director and CEO, DICV.
Daimler AG and Rolls-Royce plc today announceed their agreement to the valuation of Daimler’s 50% equity interest in the Rolls-Royce Power Systems Holding Ltd JV. The fair market value of Daimler’s shares due to be acquired by Rolls-Royce are valued at EUR 2.43 billion. With a transaction expected this year, the matter is subject to usual regulatory approvals and Daimler will recognize the financial impact at the time of closing.
World’s second largest truck manufacturer, Daimler AG announced today that they have recorded a production milestone in China, in association with their local partner Foton Motor. Beijing Foton Daimler Automotive Co., Ltd. (BFDA), a 50:50 JV between Daimler and Foton, saw the 150,000th Auman branded truck rolling off the production line from their plant.
The changes as decided by the Board of Management, Daimler AG, are as a formality still subject to approval by the Shareholders’ meeting and Board meeting in MFTBC.
Daimler Trucks Asia has fuelled its growth in Asia and Africa. With more than 1,000 FUSO vehicles sold here in January and February 2014, Daimler Trucks Asia’s sales figures are nearly double of what they reported for the same 2 months last year. In 2013, Daimler in Africa reported 8,500 FUSO truck sold.
Daimler India Commercial Vehicles Pvt. Ltd. (DICV), a 100% wholly owned subsidiary of Daimler AG, Stuttgart, Germany along with Mitsubishi Fuso Truck and Bus Corporation, Japan (MFTBC), a Daimler Company, launched its robust DICV-made trucks in Tanzania, making it the 4th market since the start of Export in May 2013. As a part of the first 15 export markets for DICV under the new Asia Business Model, the Tanzanian market is a key market in Africa. The trucks will be sold through the exclusive dealer, Diamond Motors Limited, in Tanzania. Besides Tanzania, these trucks have already reached the markets of Sri Lanka, Kenya and Zambia with more markets to follow in Africa and Asia.
Daimler enters new territory by tapping capital market in China with issue of first bond of 500 million renminbi. The bond is issued with a one-year maturity. Daimler is the first foreign company to issue a bond with a volume of 500 million renminbi (equivalent to 60 million euros) and a maturity of one year.
Stuttgart – Daimler AG (ticker symbol DAI) is to sell its 50-percent equity interest in the joint venture Rolls-Royce Power Systems Holding Ltd. (RRPSH) to its partner Rolls-Royce plc. Daimler is making use of a put option on its stake in RRPSH that was agreed upon with Rolls-Royce in 2011.