Mitsubishi Fuso Truck and Bus plans to expand to India and produce trucks there from 2012, becoming the first major Japanese commercial vehicle maker to launch local production in the fast growing emerging market.
Company president Albert Kirchmann told Kyodo News the company wanted to assemble 50,000 trucks annually in the future, a move which could prompt other Japanese CV makers to expand into India.
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By going into India, which has capacity for further growth, Mitsubishi Fuso aims to secure its share in the market.
The company plans to manufacture mainly low priced new brands developed in house – ranging from small to large trucks – at a factory in the southern city of Chennai owned by parent Daimler AG. The German automaker already assembles Mercedes-Benz models there including some cars.
Kirchmann added Fuso planned to begin with exports of small trucks and other vehicles to India by the end of 2010, ahead of local production.
He said the company would introduce hybrid technology to all truck models in future and added it would start exporting small hybrid trucks, currently marketed in three countries including Japan, to Hong Kong and Singapore this year.
Worldwide sales of Mitsubishi Fuso vehicles in 2009 almost halved year on year to about 100,000 units, but the company expects sales to rise in 2010, helped by recovery mainly in Indonesia, Russia and the United States, Kyodo noted.
