Daimler to put $420 mln in new Indian JV - paper

Newswire

MUMBAI, Dec 27 (Reuters) - Germany's Daimler AG will invest about 16.5 billion rupees ($420 million) and take 60 percent in a commercial vehicle joint venture with India's Hero Group, the Economic Times said on Thursday in an unsourced report. "These figures were communicated by the German company to the government last week," the paper said. A spokesman for Daimler in India declined comment. A Hero Group official said they were not ready to comment on the details of the joint venture. ...

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