Daimler-Benz expands

Daimler-Benz expands

SINGAPORE: Daimler-Benz in Germany plans to invest nearly
US$3.4 billion over the next three to five years to expand
operations in Asia.

According to Associated Press, sales of cars and trucks in the
region presently account for 10 percent of the German-industrial
giant's total revenue.

The company plans to use Singapore -- where Mercedes cars have
a 14 percent market share -- as its base for expansion into
China, India and Southeast Asia.

It hopes to double or triple sales in Southeast Asia over the
next 10 years, a region which presently only accounts for 3
percent of the company's total.