Daimler India Commercial Vehicles proposes ₹4,000cr investment in Tamil Nadu
Daimler India Commercial Vehicles (DICV, the folks behind BharatBenz trucks and busses) has proposed to make an additional investment of about ₹4,000 crore in Tamil Nadu, bumping their total spend in India to ₹14,500 crore.
The additional investment was outlined under a non-binding Facilitation Memorandum of Understanding (MoU) signed with the Tamil Nadu government at the Tamil Nadu Investment Conclave.
This investment is expected to support product development, manufacturing, research and development, infrastructure and future technology readiness.
DICV says 92% localized in India
This move means approximately 400 new jobs are expected to come to Tamil Nadu as BharatBenz gears up for its next big expansion, especially in logistics, mining, construction, and passenger transport.
Their Oragadam facility already supports over 4,000 employees and works with over 400 local suppliers.
DICV Managing Director & CEO Torsten Schmidt says as much as 92% of the value of BharatBenz products is localized through its extensive Indian supplier ecosystem; DICV wants to reinforce the country's role as an important manufacturing and supply base within Daimler Truck's global network.