KAMAZ consolidated 100% stake of former JV with Daimler

KAMAZ has consolidated 100% of the shares of the former joint venture with Daimler - DK Rus LLC, which manages the assembly and distribution of Compass medium-duty trucks, as well as a cab frame plant in Naberezhnye Chelny. According to the Unified State Register of Legal Entities, the joint venture, which the Russian and German automakers owned on a parity basis, came under the sole control of KAMAZ on January 13th, and shortly before that it was renamed Trucks Vostok Rus LLC (TVR), writes the Interfax agency. Since July 2022, the company has been the official distributor of Compass medium-duty trucks, which are produced in Naberezhnye Chelny on the basis of components of Chinese automaker JAC.

As noted, the renaming into "Trucks Vostok Rus" does not affect relations with customers, suppliers and partners of the distributor of medium-duty trucks "Compass". The addition of medium-duty trucks to the product portfolio allowed the company to optimize production processes and achieve an optimal scenario for development in the Russian market in the new realities. Recall that DK Rus acted as the general importer of Mercedes-Benz trucks and special vehicles and Fuso medium-duty trucks, which were produced by the SKD method at the facilities in Naberezhnye Chelny.

"Trucks Vostok Rus" now has two plants in Naberezhnye Chelny: for SKD assembly of vehicles, where FusoCanter medium-duty trucks have been produced since 2010; and for the production of cab frames for Mercedes-Benz and KAMAZ trucks - the plant was launched in the spring of 2019. Daimler concern decided to suspend operations in Russia last year, but continues to own a 15% stake in KAMAZ. As Sergey Kogogin, General Director of KAMAZ, explained, Daimler refused to participate in the management of the company and it is in the share capital in the position of "sleeping" shareholder.