Business

Daimler India to improve localisation of CVs

Daimler India Commercial Vehicles has drawn up a 3-year plan to increase the indigenisation percentage in Indian-made commercial vehicles (CVs), said MD and CEO Satyakam Arya. The company has set a target to reach 95% localisation in commercial vehicles over the next three years. Currently, this stands at 90%, Mr. Arya said during a phygital meet.

“Currently, DICV import components amounting to 10% of its turnover, while exports contributes 30%,” he said.

Describing the year 2020 as ‘rough and tough’, he said the sales of commercial vehicles dipped by nearly 60% against 34% in the previous year. The company has started seeing recovery from the Q4 of 2020, and is expected to see a possible growth rate of 40% to 90% during 2021. He also said that the market share of commercial vehicles doubled after the introduction of BS-VI in April 2020 and the company had also expanded its dealers touch-point in the last nine months.

On Friday, DICV unveiled 'BSafe Express’ a specialised reefer truck for transportation of COVID-19 vaccines. The truck was designed by DICV in collaboration with Motherson Group.

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Printable version | Mar 5, 2021 1:39:44 PM | https://www.thehindu.com/business/daimler-india-to-improve-localisation-of-cvs/article33638553.ece

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