Daimler India Commercial Vehicles (DICV) has appointed Rajiv Chaturvedi as President and Chief Business Officer, strengthening its leadership in the highly competitive Indian truck market. Chaturvedi’s appointment, announced via social media, marks a key leadership change at the Indian division of Daimler Truck AG.
Chaturvedi steps into the role after Sreeram Venkateswaran, who served as CBO from August 2023 to March 2025. Venkateswaran played an integral role in shaping DICV’s strategy, including building the market entry plan for BharatBenz, Daimler’s dedicated brand for India. Before his time at DICV, Venkateswaran held a leadership role at logistics startup Rivigo, where he introduced innovative approaches to the company’s Indian operations.
As India’s commercial vehicle market enters a period of slower growth, with shifting logistics trends and increased competition, Chaturvedi’s leadership will be critical in helping DICV adapt and maintain its growth trajectory. Chaturvedi brings substantial industry experience, having spent five years at Hyundai Construction Equipment India, where he oversaw sales, after-sales, and parts distribution. Under his leadership, the company achieved over 20% annual revenue growth and a 200% increase in operating profit between 2022 and 2024. His prior experience at Tata Hitachi Construction Machinery further strengthened his cross-functional and strategic expertise.
Chaturvedi takes over as DICV faces mixed performance results. The company experienced a 23% drop in sales in 2024, delivering 21,434 units compared to 25,435 in 2023. However, the company reported a significant increase in net profit, reaching ₹1,787 crore for FY24, up fivefold from the previous year. Demand for higher-margin products like tippers and tractor-trailers, as well as growth in the bus segment, helped offset the volume decrease. Additionally, DICV’s export operations contributed significantly to improved financial performance.
DICV’s strategic positioning within Daimler Truck’s global structure is also evolving. India and China have been separated from the broader Daimler Truck Asia region, with the ongoing merger of Mitsubishi Fuso and Hino Trucks reshaping the group’s Asian operations. This realignment will provide Chaturvedi with the opportunity to guide DICV through this transformative phase and integrate it more deeply into Daimler Truck’s global network.
Chaturvedi’s knowledge of the infrastructure sector will be crucial as DICV aims to grow its market share in India, competing against domestic players like Tata Motors, Ashok Leyland, and VE Commercial Vehicles. Chaturvedi’s appointment follows another key leadership change at DICV, with Michael Moebius joining as President and Chief Procurement & Supply Chain Officer in November 2024. Moebius, formerly of Daimler Truck Asia, brings extensive experience in quality management across multiple brands and regions.
Daimler India Commercial Vehicles, a subsidiary of Germany’s Daimler Truck AG, has established itself as a major player in the Indian commercial vehicle market since its inception in 2009. Known for its BharatBenz brand, DICV also manufactures and exports vehicles under the FUSO, Mercedes-Benz, and Freightliner brands to over 60 global markets. The company operates a state-of-the-art 400-acre facility in Oragadam, Chennai, with production, R&D, and testing capabilities, supported by an investment of over ₹9,500 crore and a workforce of 4,000. DICV aims to continue strengthening its role in Daimler’s global supply and manufacturing network.
