Hino Motors, Marubeni JV in India
A wholly owned subsidiary of Japans Toyota Motor, Hino Motors Ltd. has established a joint venture with major trader Marubeni Corp. in Mumbai, India. Hino Motors owns 65% of the new company, Hino Motors Sales India Private Ltd., capitalized at some Â¥490 million (US$4.66 million) and the rest by Marubeni. The two firms plan to sell trucks and buses in India to meet growing demand in the South Asian country. Hiroshi Nakamura, managing director of Hino Motors Sales India, said his company had identified the Indian trucking sector as a priority market and Hino vehicles were ready to play their role in the country’s development. The company will be based in Mumbai and will commence commercial operations in April 2009 and will launch the Hino 500 series, the Japanese automaker’s mainline models, they said. (September 2/4, 2008)
