Daimler buys stake in Russian truck maker

Daimler AG has inked a deal to acquire 10% of Russian truck maker OAO Kamaz, the Associated Press has reported.

Russia is one of many emerging global markets for trucks that OEMs have been eager to tap into. Daimler has estimated the Russian truck market could grow 20% per year over the next two years, according to a report by the Associated Press.

Kamaz has about 30% of the Russian market share and sold more than 53,000 trucks last year.

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