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April 25, 2013 10:30 AM, EDT
Daimler Sets China Truck-Bus Business Unit

Daimler AG said it has established a truck and bus unit in China to help boost its commercial vehicle business in that country.

The entity, Daimler Trucks and Buses China Ltd., “will provide a solid framework for future expansion of the existing truck business and continuously broaden [its] product portfolio,” the Stuttgart, Germany-based company said in a statement.

The unit has obtained its business license from Chinese authorities, and its CEO will be Robert Veit, who was executive vice president of Daimler Trucks China. He will report to Hubertus Troska, who is responsible for China on Daimler’s management board.

“DTBC will provide a solid framework for future expansion of the existing truck business and continuously broaden our range of products, for instance in the bus segment,” Veit said in a statement.

Daimler makes Freightliner and Western Star brand trucks in North America.