Hino Motors Ltd. and Marubeni Corporation have jointly promoted a sales company, Hino Motors Sales India Private Ltd., which was formally inaugurated on August 26. The total outlay on the joint venture is 490 million yen, with Hino investing 65 per cent and Marubeni 35 per cent. Initially the JV would employ 30 people for sales of Hino trucks, buses and their service parts.
The new company will take full advantage of the emerging opportunities in the rapidly developing Indian economy where demand for trucks is growing at an unprecedentedly high rate with expanding activities in areas like infrastructure, housing, etc.
With the formation of the new company, both Hino and Marubeni would enter the booming truck and bus markets in India. The joint venture will begin sales of the Hino 500 Series from the middle of 2009, which is Hino’s main sales model in the overseas market. The company also plans to introduce the Hino 700 Series, Hino 300 Series and their buses in a few years.
