Kamaz has signed a deal with the diversified conglomerate Vectra Group to build trucks for the Indian market, local press reported today.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The Press Trust of India said that the joint venture will be owned 51% by Kamaz with the remaining share held by Vectra. The total investment was said to be US$13m.
Initially, the project will build tippers for the mining and construction industries. Heavy-duty and on-road vehicles will be rolled out in the future.
Russian truck maker Kamaz produced 51,005 trucks and 53,791 vehicle sets in 2008, about the same as in the year, the company said earlier this year.
Kamaz is optimistically forecast to produce 47,000 trucks this year.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataKamaz, based in the republic of Tatarstan, is part of Kamaz Group, which also includes the Neftekamsk auto plant, located in the republic of Bashkortostan, and Avtopritsep-Kamaz, based in Stavropol
