Daimler, MAN Step Up China, India Presence

Daimler AG and MAN SE have stepped up their presence in China and India, respectively, Bloomberg reported Monday.

Chinese truck maker Beiqi Foton Motor Co.’s board of directors approved a previously announced plan to license truck technology to a joint venture with Daimler AG worth about $265 million, Bloomberg said, citing a Foton statement on the Shanghai stock exchange.

Separately, MAN SE will take control of the MAN Force Trucks Pvt. Ltd. joint venture in India by buying the shares held by Force Motors Ltd., Bloomberg reported.

Volkwagen AG said earlier this month it would boost its global trucking presence with an increased of MAN.

Volkswagen, Daimler and MAN are all based in Germany.

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Volvo Plans Truck Investments in China, India

Volvo AB is planning investments in India and China to bolster its truck business and meet demand from those markets, Bloomberg reported Monday, citing a company executive.

The truck unit’s China investments will include opening research and development centers and expanding distribution and retail, Volvo Group Senior Vice President Par Ostberg said in an interview in Singapore.

In India, Volvo plans to build plants such as one for medium-duty engines, Bloomberg reported.

Volvo is only seeing a “very small impact” on Chinese demand from rising interest rates, said Ostberg, who joined the Volvo in 1990.

Volvo AB, the parent company of Volvo Trucks North America and Mack Trucks, is scheduled to release its third-quarter earnings this week.

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