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1 Oct, 2009 10:52

Kamaz Daimler truck joint venture steps closer

Kamaz Daimler truck joint venture steps closer

Russian truck producer Kamaz, and German counterpart, Daimler, have moved a step closer to a joint venture to produce, sell and service Mercedes-Benz trucks in Russia, with the signing of a letter of intent.

The joint venture, which will be known as Mercedes-Benz Trucks Vostok, will be the sole importer of Mercedes-Benz trucks and Mercedes-Benz and Setra passenger buses. Daimler is expecting to expand its presence on the Russian market, where it foresees significant growth, by using existing kamaz sales and servicing centres.

The joint venture will also see technology and sales experience exchange, with Kamaz General Director, Sergei Kogogin, saying that the strategic partnership with Daimler, which has a 10% stake in Kamaz, will strengthen the Russian company’s position and help with modernization. A further agreement has been signed which will see Daimler Trucks and Kamaz on joint purchasing, and the training of Kamaz employees in Daimler’s production management system.

The signing comes after a similar agreement was reached with Mitsubishi Fuso Truck and Bus Corporation, Asia’s largest producer of commercial vehicles, in which Daimler is a major stakeholder, in July. Daimler believes that negotiations on this joint venture will be completed by November, leading to sales of Fuso trucks on the Russian market, produced at the Kamaz Naberezhnye Chelny plant.