MUMBAI, India (AP) -- Germany's Daimler says it is investing 44 billion rupees ($850 million) in India. Its new commercial vehicle factory in the south Indian auto hub of Chennai was inaugurated Wednesday.
The company says it will start commercial vehicle production in the third quarter of this year, with an initial capacity of 36,000 vehicles.
Daimler says that by 2014 it will produce 17 truck models in India, the world's third-largest commercial vehicle market.
It says the factory will start exporting to Asia and Africa as early as next year.