Daimler India aims to achieve break even by end of 2018 despite challenges Noor Arora
Daimler India Commercial Vehicle (DICV) has aimed to achieve its first full year break-even by the end of December 2018. The company is on course to achieve break-even this year, said DICV's Managing Director and CEO, Erich Nesselhauf. "We have created a solid base to cater both India and global markets," said Nesselhauf, adding that the company had a good year despite challenges like demonetisation, emission norms etc. He also said the company hopes to close the year with over 10 per cent growth. Nesselhauf conceded that meeting BS-VI norm will be a challenge, but said it will be a good opportunity for the company to modernise and upgrade. DICV, which currently produces around 72000 units a year, expects to achieve full capacity in the next three years. "We have developed an eco-system to cater both domestic and export markets", Nesselhauf said. Presently, more than 50 million parts are sourced by the company from India.
ARTICLE SOURCE: BS