Setup of joint venture Mercedes-Benz India

In Stuttgart-Untertürkheim, Helmut Werner, Chairman of the Board of Management of Mercedes-Benz AG, and Ratan Tata, Chairman of Tata Engineering and Locomotive Co. (TELCO) headquartered in Bombay, sign an agreement on a joint venture in which Mercedes-Benz AG holds a 51 % share. The purpose of the company is to produce E-Class passenger cars and Mercedes-Benz engines in Pune, India. Mercedes-Benz India, Ltd. is founded on 22 November.