Daimler to invest $969 million in India truck unit

Daimler AG's India unit said it planned to invest Rs44 billion ($969 million) over the next five years on its truck making facility in the southern Indian city of Chennai.                                           

Daimler India Commercial Vehicles Pvt Ltd unveiled on Thursday a test track for the trucks it planned to start producing from the middle of 2012, it said in a statement.                                           

The company will make light, medium and heavy-duty trucks ranging from 6 tonnes to 49 tonnes at the 400-acre Oragadam facility that will have capacity to make 70,000 units annually.