The story
In 2008, Daimler AG planned to enter the Indian market in a joint venture with Hero MotoCorp to build medium and heavy commercial vehicles. A joint venture named Daimler Hero Commercial Vehicles (DHCV) was formed under a Memorandum of Understanding (MOU) in July 2008 with 60% holding of Daimler AG and 40% holding of Hero Group.
Daimler AG and Hero Group announced they dissolved the Daimler Hero Commercial Vehicles Ltd. joint venture on 15 April 2009 because of an economic downturn in India. Hero Group decided to focus on core operation and return the 40% stake in DHCV joint venture to Daimler AG. With 100% stake, Daimler AG renamed DHCV as Daimler India Commercial Vehicles (DICV).
The launch of the Bharat Benz brand was announced on 17 February 2011 in Chennai by Daimler AG Chairman Dieter Zetsche and the first Bharat Benz truck was unveiled on 4 January 2012 at the Delhi Auto Expo. The decision to launch the brand was prompted by Daimler's determination to compete in the fast-growing Indian truck market against existing Indian brands such as Ashok Leyland, Tata Motors and Indian ventures of other leading global truck manufacturers like VE Commercial Vehicles (Volvo-Eicher Motors Joint Venture). The entire proposed truck line-up in the 9 to 49-tonne range was unveiled on 2 March 2012.
In early 2014 Bharat Benz launched the tractor trailer models and a construction model making itself a full range player in the segment above 9T category spanning across medium and heavy-duty truck segments.
In May 2015, Bharat Benz inaugurated its new bus manufacturing facility in Oragadam, Chennai and unveiled its second wave of products – BharatBenz and Mercedes-Benz buses as well as a new range of Bharat Benz trucks and Bharat Benz heavy-duty tractors.
From Wikipedia’s article on BharatBenz, shared under CC BY-SA 4.0.4