Fuso Successful in Growth Markets
- 1,000th Fuso truck produced in Russia
- Sales volumes expected to rise in Russian market
- Market entry in Mongolia
- Expansion into further markets planned for 2011
Mitsubishi Fuso Truck and Bus Corporation (MFTBC), one of Asia's leading commercial vehicle manufacturers and an integral part of the Daimler Trucks division, continues its success story in growth markets. At the end of May, the company produced its 1,000th Fuso truck in Russia. It also entered the Mongolian market in May.
Fuso reaches production milestone in Russia
The 1,000th Canter light truck rolled off the production line roughly only one year after truck assembly began at the Fuso Kamaz Trucks Rus (FKTR) manufacturing facility in Naberezhnye Chelny. FKTR is a joint venture, in which Kamaz and Daimler AG each have a 50 percent stake.
The joint venture was set up in late 2009 to handle importation, production and distribution operations for Fuso trucks in Russia. The joint venture's headquarters is in Kazan.
Fuso: No. 2 Japanese brand in Russia
Fuso has meanwhile become the No. 2 Japanese brand in the light truck segment in Russia. Furthermore, the distribution network for Fuso trucks in Russia was continuously expanded last year and now numbers 50 locations throughout the country. "We are just getting started in the key Russian market," said Dr. Albert Kirchmann, Head of Trucks Asia, with reference to the production milestone. "We see great potential for our products here, especially as the Russian economy becomes more diversified with greater focus on services."
Market entry in Mongolia strengthens the company's presence in Asia
Russia's neighbor Mongolia is also considered to be a growth market, and Fuso has had a presence there since mid-May. The move takes the company a step closer to achieving its strategic goal of international expansion into key markets with growth potential.
Fuso will initially offer the Canter light-duty truck and Fighter medium-duty truck in Mongolia. The trucks are being exported from Japan and sold through the dealer network of Mongolian Star Melchers Co., Ltd. (MSM), which is headquartered in the Mongolian capital of Ulaanbaatar.
"We see solid economic growth potential in Mongolia," said Kai-Uwe Seidenfuss, MFTBC Vice President of Sales and Service International, at a ceremony marking the delivery of the first ten Canter trucks to MCS Coca-Cola LLC in Ulaanbaatar on May 16. "Furthermore, with our products and comprehensive service offerings, we and our local partner MSM can help promote the development of the industrial sector in the country."
Fuso International Growth Strategy
Last year, MFTBC entered a number of new markets, including Russia, Pakistan, Cambodia, and Laos. As a result, Fuso is now active in more than 150 markets worldwide. The company will continue its expansion activities in 2011 and will enter new markets during the course of the year.
About Mitsubishi Fuso Truck and Bus Corporation (MFTBC)
MFTBC is an integral part of the Daimler Trucks division of Daimler AG. Daimler currently owns 89.29% of MFTBC, while Mitsubishi Group companies hold 10.71%. Based in Kawasaki, Japan, MFTBC develops, manufactures, and sells a comprehensive range of Fuso brand trucks and buses, which are marketed in more than 150 countries worldwide. Fuso is the most important Daimler Trucks brand in Asia. MFTBC serves as the competence center for all light trucks worldwide and is also the global hybrid center for all of Daimler's truck series.
Further information from Daimler can be found on the Internet at www.media.daimler.com and www.daimler.com
Über Daimler AG
The company's founders, Gottlieb Daimler and Carl Benz, made history with the invention of the automobile in the year 1886. 125 years later, in anniversary year 2011, Daimler AG is one of the world's most successful automotive companies. With its divisions Mercedes-Benz Cars, Daimler Trucks, Mercedes-Benz Vans, Daimler Buses and Daimler Financial Services, the Daimler Group is one of the biggest producers of premium cars and the world's biggest manufacturer of commercial vehicles with a global reach. Daimler Financial Services provides its customers with a full range of automotive financial services including financing, leasing, insurance and fleet management. As an automotive pioneer, Daimler continues to shape the future of mobility. The Group applies innovative and green technologies to produce safe and superior vehicles which fascinate and delight its customers. With the development of alternative drive systems, Daimler is the only vehicle producer investing in all three technologies of hybrid drive, electric motors and fuel cells, with the goal of achieving emission-free mobility in the long term. This is just one example of how Daimler willingly accepts the challenge of meeting its responsibility towards society and the environment. Daimler sells its vehicles and services in nearly all the countries of the world and has production facilities on five continents. In addition to Mercedes-Benz, the world's most valuable automotive brand, Daimler's brand portfolio includes smart, Maybach, Freightliner, Western Star, BharatBenz, Fuso, Setra, Orion and Thomas Built Buses. The company is listed on the stock exchanges of Frankfurt and Stuttgart (stock exchange symbol DAI). In the year 2010, the Daimler Group sold 1.9 million vehicles and employed a workforce of more than 260,000 people; revenue totaled €97.8 billion and EBIT amounted to €7.3 billion.