FRANKFURT (AP) -- German automaker Daimler AG said Monday its Mitsubishi Fuso Truck and Bus Corporation subsidiary would enter the Puerto Rican market with a sales and service agreement with Guaraguao Truck Sales in Bayamon, Puerto Rico.
The Stuttgart-based company, the world's largest truckmaker, said its Japanese unit would export trucks from Japan to Puerto Rico through Mitsubishi Fuso Truck of America.
"Fuso's entry into the Puerto Rico market is part of an initiative to strengthen the brand's presence throughout North America," said Albert Kirchmann, the chief executive of Mitsubishi Fuso Truck and Bus in a statement.
Mitsubishi's product offerings for Puerto Rico will include diesel-powered, cab-over engine light-duty and medium-duty trucks ranging from 5.7 tons to 15 tons. They will be built at Mitsubishi's plant in Kawasaki, Japan, and exported as completely built units to Puerto Rico.
Mitsubishi is also augmenting its dealer network in North America by doubling the number of dealerships in Canada and adding locations in the United States, Daimler said in its statement.
Fuso's dealer network currently has more than 200 locations in the U.S., Canada, and Puerto Rico. In the past 10 years, Fuso has sold more than 51,000 vehicles in North America.
Daimler holds around 85 percent of Mitsubishi Fuso Trucks and Buses.
Shares of Daimler were down about 1 percent at euro32.50 ($47.45) in Frankfurt morning trading.