Daimler to Form New Joint Ventures with Kamaz

German carmaker Daimler put an end to speculation today by confirming it will form two new joint ventures with its Russian partner Kamaz, for the manufacturing of trucks. The two new JVS will be called Fuso Kamaz Trucks Rus and Mercedes-Benz Trucks Vostok. The formerwill be used for the import, production, and sale of Fuso trucks in Russia, while the latter for the manufacturing of Mercedes-Benz Actros and Axor trucks, starting in the second quarter of 2010.

"With our strategic partnership with Kamaz we are in line with our Daimler Trucks’ growth strategy for the RIC markets”, Andreas Renschler, Daimler member of the board for Daimler Trucks and Buses said in a release.

"The implementation of the two joint venture projects between Kamaz and Daimler Trucks has brought us a giant step towards to the expansion of our presence in the Russian market. With both co-operations the know-how of Fuso and Mercedes-Benz Trucks in the areas of development, production, and sales will flow into the two joint ventures. That means, as soon as the Russian truck market will recover, we at Daimler Trucks are able to react on any additional truck demand immediately.”

Fuso Kamaz Trucks Rus will be evenly owned by Daimler and Kamaz and will begin importing SKD kits from Japan, as well as producing and selling the light-duty Fuso Canter trucks in the first quarter of 2010. The Fuso Canter trucks will be manufactured in Naberezhnye Chelny, while the company's new HQ will be in Kazan.

The second venture, Mercedes-Benz Trucks Vostok will also be evenly owned by the two, with the production of the heavy-duty trucks Mercedes-Benz Actros and Axor initially done in Naberezhnye Chelny.

“The development of the strategic partnership between Daimler Trucks and Kamaz is becoming increasingly important and is designed to ensure that the two partners will enjoy a long-term relationship," Sergey A. Kogogin, Kamaz director added.