On the 24th, Daimler signed a joint venture agreement with KamAZ, the largest truck manufacturer in Russia, and the two sides will set up two joint ventures in Russia, each holding 50% of the shares.
The first joint venture company, Fuso KamAZ Trucks Rus, will be responsible for the import, production and sales of riffle trucks in Russia, and will begin production and sales of the Fuso Canter models in the first quarter of 2010.
The second joint venture, Mercedes-Benz Trucks Vostok, will produce the Mercedes-Benz Actros and Axor series trucks, which are expected to begin production in the second quarter of 2010.
Daimler currently holds a 10% stake in Kamaz and is expected to increase its holdings in the future.
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