Daimler to export commercial vehicles from India in 2013

CHENNAI (Reuters): Daimler AG will start exporting commercial vehicles from India in 2013, said Marc Lilstosella, chief executive officer of Daimler India Commercial Vehicles.

Daimler's fully owned subsidiary inaugurated a 44-billion-rupee ($852 million) plant outside of the southern Indian city of Chennai on Wednesday as it looks to establish a foothold in the fast-growing truck and bus market.

The plant will begin production this year and have an initial capacity of 36,000 commercial vehicles.

Daimler is the world's largest commercial vehicle manufacturer.