Daimler said that because it now is in an excellent position to capitalize on the growth potential of the Indian passenger and commercial vehicle markets and it continues to intensify its own activities there, an equity participation of Daimler in Tata is therefore no longer necessary. The sale was done in full consultation with Tata, according to Daimler.

Daimler’s activities in the India market include:

• The wholly owned subsidiary Mercedes-Benz India has been producing Mercedes-Benz cars and commercial vehicles in Pune since 1995. In February 2009, a new plant was opened in Pune for Mercedes-Benz E-Class and S-Class models. Meanwhile, the brand is represented with showrooms and service centers in 25 cities. In the first two months of 2010, Mercedes-Benz almost doubled its sales to a total of 800 vehicles. Additional positive impetus is expected this year from the launch of the new E-Class. In 2010, Mercedes-Benz intends to gain market share and to grow at a double-digit rate. A total of more than 3,200 Mercedes-Benz cars were delivered to customers in India last year.

• Daimler India Commercial Vehicles Ltd. (DICV) took over the marketing of Fuso branded commercial vehicles in India at the beginning of 2010. The first Fuso vehicle was sold to an Indian customer in January 2010. In 2009, Daimler Trucks founded its own production company, Daimler India Commercial Vehicles Ltd. (DICV), which is building a new plant in Chennai in the southeast of India. Starting in 2012, the new plant will initially produce light, medium and heavy-duty commercial vehicles for the Indian volume market under a new brand name. The production of trucks for export to other emerging markets will follow at a later date.

• Daimler established its biggest research and development center outside Germany in Bangalore in 1996.