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Top Management changes at Daimler India Commercial Vehicles

Chennai: Daimler India Commercial Vehicles Pvt. Ltd (DICV), a 100% wholly owned subsidiary of Daimler AG, today announced changes in its top management.

In line with the recently announced Daimler Trucks Asian Business Model involving the integration of certain key areas, the first integration involves the R & D of Daimler India Commercial Vehicles Pvt. Ltd. (DICV) and Mitsubishi Fuso Truck & Bus Corporation (MFTBC) (a Daimler Company), Japan.

Accordingly, Mr. Aydogan Cakmaz, who was until now Head – R & D at DICV, takes over as Head – R & D for Trucks Asia and will based at the MFTBC Headquarters at Kawasaki, Japan, effective 01 July 2013. He will oversee all R & D operations of Daimler Trucks for Asia. Mr. Cakmaz was instrumental in the development of the BharatBenz range of trucks building in them the reliability arising out of intense testing and engineering.

Mr. Hidekazu Kanno, who was Head – Product Lifecycle Management at MFTBC, Japan, takes over as Head – R & D for DICV, at Chennai, effective 01 July 2013. He will now report to Mr. Aydogan Cakmaz.

In an other change not related to the Asian Business Model, Mr. Sanjiv Khurana, who was CFO at DICV completes his term at DICV and takes over as President – Remanufacturing Division, Daimler Trucks North America at Portland, Oregon, USA, effective 01 July 2013. Mr. Khurana has been with DICV since its inception. As a key member of DICV’s Executive Committee and several core teams, he has contributed immensely to DICV’s establishment in India.

Mr. Parthasarathy Thota, who was hitherto Head – Light/Medium-duty Trucks Project for BharatBenz at DICV, takes over as the CFO of DICV, effective 01 July 2013. Mr. Thota as Head of the L/MDT project established the BharatBenz portfolio of L/MDT Trucks right from the beginning until its launch in February this year. Earlier to his stint at DICV, Mr. Thota handled several responsibilities in the areas of Finance & Controlling at Daimler’s Freightliner Division in the USA.

Daimler India Commercial Vehicles Pvt. Ltd

Daimler India Commercial Vehicles (DICV) is a 100% subsidiary of Daimler AG, Stuttgart, Germany. DICV will produce light, medium and heavy-duty commercial vehicles for the Indian volume market, under the brand name – BharatBenz. BharatBenz stands for Indian engineering with German DNA. The products will be customized to serve all major customer segments, from owner-drivers up to large fleet operators. The efficiency of BharatBenz trucks will be an optimal fit for customers keen on efficiency, a low Total Cost of Ownership over the life-cycle and highest profit potential for their businesses. The state-ofthe-art production plant at Oragadam, near Chennai, spreads over 400 acres (160 hectares). It includes a modern test track designed to simulate Indian conditions – making it one of its kind in Asia. DICV has a total dedicated investment of over INR 4400 crs (approximately €700 million).

The Company also handles Production, Marketing, Sales and After Sales of Mercedes-Benz Actros Trucks in India. Mercedes-Benz Trucks with the Brand Promise “Trucks you can Trust” are renowned world-wide for their reliability and efficiency under most extreme operating conditions, as well. These trucks also offer the best that Truck Technology has to offer.

Sustainability being a core of Daimler’s corporate culture, DICV will focus on creating efficient, reliable and ecologically friendly products.

Mitsubishi FUSO Truck and Bus Corporation

Based in Kawasaki, Japan, Mitsubishi Fuso Truck and Bus Corporation (MFTBC) is one of Asia's leading commercial vehicle manufacturers. In 2012, the company sold a total of about 174,000 vehicles including light-, medium- and heavy-duty trucks and buses. Daimler AG owns 89.29% of MFTBC shares and various Mitsubishi group companies own 10.71% of MFTBC shares. MFTBC is an integral part of the Daimler Trucks Division of Daimler AG.

BharatBenz

BharatBenz is the Indian truck brand of Daimler AG, the world’s largest Commercial Vehicle manufacturer and inventor of the truck. Backed by over a century of global trucking experience and an in-depth understanding of the Indian terrain, BharatBenz is here to transform the country’s trucking industry. BharatBenz has begun to offer Indian customers an entire truck portfolio in the 6 to 49 tonne range across various applications. The name – BharatBenz - brings out the two most defining qualities of a brand that is being built exclusively for India. ‘Bharat’ carries the values, ideologies and spirit of the nation, and reinforces the brand’s commitment to serve the Indian market. ‘Benz’ upholds the lineage of innovation, technological brilliance and engineering excellence that have given unparalleled performance and great value for generations. Powered by the synergy between global leadership in technology and local deep rooted customer knowledge, BharatBenz builds robust, reliable, performance-oriented trucks to drive maximum productivity and deliver maximum value to customers across the country. With BharatBenz, a new era in Indian trucking has arrived.

This document contains forward-looking statements that reflect our current views about future events. The words “anticipate,” “assume,” “believe,” “estimate,” “expect,” “intend,” “may,” “plan,” “project,” “should” and similar expressions are used to identify forward-looking statements. These statements are subject to many risks and uncertainties, including an adverse development of global economic conditions, in particular a decline of demand in our most important markets; a deterioration of our funding possibilities on the credit and financial markets; events of force majeure including natural disasters, acts of terrorism, political unrest, industrial accidents and their effects on our sales, purchasing, production or financial services activities; changes in currency exchange rates; a shift in consumer preference towards smaller, lower margin vehicles; or a possible lack of acceptance of our products or services which limits our ability to achieve prices as well as to adequately utilize our production capacities; price increases in fuel or raw materials; disruption of production due to shortages of materials, labour strikes, or supplier insolvencies; a decline in resale prices of used vehicles; the effective implementation of cost-reduction and efficiency-optimization measures; the business outlook of companies in which we hold a significant equity interest, most notably EADS; the successful implementation of strategic cooperation’s and joint ventures; changes in laws, regulations and government policies, particularly those relating to vehicle emissions, fuel economy and safety; the resolution of pending governmental investigations and the conclusion of pending or threatened future legal proceedings; and other risks and uncertainties, some of which we describe under the heading “Risk Report” in Daimler’s most recent Annual Report. If any of these risks and uncertainties materialize, or if the assumptions underlying any of our forward-looking statements prove incorrect, then our actual results may be materially different from those we express or imply by such statements. We do not intend or assume any obligation to update these forward-looking statements. Any forward-looking statement speaks only as of the date onwhich it ismade.


Capt. J Shankar Srinivas (DICV),

+91 44 4599 6508,

Vijay Shekhar (MSL India),

+91 97890 52198,