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DICV MoU with TN Govt

13/07/2020 | Author: Autoguide | 0 Comments Back To Home   < Previous News   |   Next news >

Mr. Satyakam Arya, MD & CEO

Daimler India Commercial Vehicles (DICV) on May 28 signed a Memorandum of Understanding with the Government of Tamil Nadu, covering Rs 2,277 crore of investments designed to expand its CV production at Oragadam plant. The investment represents an approximate 400 jobs, said a press release.
 
Mr. Satyakam Arya, MD & CEO of Daimler India Commercial Vehicles, said, “This is the second MoU that DICV has signed with the Government of Tamil Nadu. It demonstrates our unshakeable confidence in the long-term potential of India as a market for commercial vehicles, and our ongoing commitment to the country as a whole.”
 
DICV was established as a wholly-owned Daimler subsidiary in 2009 to address four strategic targets: serve the strategic Indian growth market for commercial vehicles, leverage its potential as an exports base, develop its sourcing potentials for Daimler globally, and leverage specific competencies to provide shared services to the Daimler Group.
 

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