Daimler trucks unit sees profits in India by 2017 -report
BERLIN, March 7
BERLIN, March 7 (Reuters) - Daimler's trucks division may return to profit in India by 2017 as the weak rupee is proving a boon to exports from the new Chennai factory, Frankfurter Allgemeine Zeitung reported on Friday, citing unit chief Wolfgang Bernhard.
"The fall in value of the rupee is an opportunity that allows us to make money on exports from Chennai," the newspaper quoted Bernhard as saying in an interview.
Daimler's plant in Chennai, where the German company assembles vans and heavy-duty trucks, was completed in 2012 at costs of 700 million euros ($968.80 million).
Asia accounted for a third of Daimler's 484,000 truck sales last year. ($1 = 0.7225 euros) (Reporting by Andreas Cremer, editing by William Hardy)