DaimlerChrysler announced Tuesday a joint venture with Indian firm Sutlej Motors to produce luxury rear-engine coaches in India, covering the full chain from development through after-sales service.
Under the arrangement, DaimlerChrysler India will supply Mercedes-Benz chassis while Sutlej handles body construction. The first coaches are expected off the production line in early 2008.
The German automaker, which bills itself as the world's foremost bus and coach manufacturer, said India's expanding market offers a key growth opportunity, with rising demand for vehicles that combine passenger comfort with safety and environmental standards.
Globally, DaimlerChrysler sold more than 18,600 buses and coaches in the first half of 2007, a three percent gain over the same period a year earlier. The company is targeting roughly 36,000 units for the full year, with India and China expected to drive the bulk of incremental demand.
Historical summary. TurkishPress restated this wire report, first published in September 2007, in its own words.