DICV Appoints Rajiv Chaturvedi President and Chief Business Officer

With an intent to fortify its commercial operations in one of Asia’s most competitive truck markets, Daimler India Commercial Vehicles (DICV) has appointed Rajiv Chaturvedi as its new President and Chief Business Officer. The announcement was made by Chaturvedi via social media, marking a pivotal leadership transition at the Indian arm of Daimler Truck AG.

Chaturvedi steps into the role following the tenure of Sreeram Venkateswaran, who served as CBO from August 2023 to March 2025. Venkateswaran, a respected veteran of the commercial vehicle (CV) sector, played a formative role in shaping DICV’s India strategy. His contributions included building the foundational go-to-market blueprint for BharatBenz—Daimler’s dedicated Indian truck brand—under the stewardship of former DICV CEO Marc Llistosella. Before his most recent stint at DICV, Venkateswaran held a leadership position at logistics startup Rivigo, bringing startup agility to the legacy truck maker’s Indian operations.

As India’s commercial vehicle sector enters a phase of slower growth amid shifting logistics trends and rising competition, Rajiv Chaturvedi’s appointment comes at a crucial juncture. His leadership will be instrumental as DICV navigates evolving market dynamics and strives to maintain operational momentum.

With a proven track record in strategic growth and operational scaling, Chaturvedi brings deep industry experience. During his five-year tenure at Hyundai Construction Equipment India, he led sales, after-sales, and parts distribution—steering the company to over 20% annual revenue growth and a 200% surge in operating profit between 2022 and 2024. His prior roles include nearly six years at Tata Hitachi Construction Machinery, as well as a stint as Executive Assistant to the Managing Director—experience that sharpened his strategic and cross-functional capabilities.

Chaturvedi assumes leadership at DICV during a period of mixed performance. The company saw a 23% decline in calendar year 2024 sales, delivering 21,434 units compared to 25,435 units in 2023. However, this volume contraction contrasts with the company’s robust financial performance—DICV reported a fivefold jump in net profit to ₹1,787 crore in FY24, building on a profitable FY23. Strong demand for high-margin products like tippers and tractor-trailers, along with an expanding bus portfolio, helped offset volume pressures. Additionally, export operations have played a pivotal role in improving operational leverage.

Strategically, DICV’s positioning is also evolving within the Daimler Truck global structure. India and China have been carved out of the Daimler Truck Asia region. Meanwhile, a significant merger between Mitsubishi Fuso and Hino Trucks is expected to reshape the group's Asian footprint, with Mercedes-Benz Trucks Europe and Latin America emerging as distinct business pillars. This evolving global framework sets the stage for Chaturvedi to steer DICV through its next phase of growth, transformation, and integration within Daimler Truck’s global vision.

DICV will rely on Chaturvedi’s deep understanding of the infrastructure space to drive improved market share for the BharatBenz brand amid intense competition from homegrown players such as Tata Motors, Ashok Leyland, and VE Commercial Vehicles.

Chaturvedi's appointment follows another high-profile addition to DICV’s top deck: Michael Moebius was named President and Chief Procurement & Supply Chain Officer in November 2024. Moebius previously led quality management at Daimler Truck Asia in Japan, overseeing standards across multiple brands and geographies.

Daimler India Commercial Vehicles, a wholly owned subsidiary of Germany’s Daimler Truck AG, has established a formidable presence since its inception in 2009. Best known for its BharatBenz brand tailored for Indian roads, DICV also manufactures and exports vehicles under the FUSO, Mercedes-Benz, and Freightliner marques to more than 60 global markets. The company operates a 400-acre integrated facility in Oragadam, Chennai, which houses its production, R&D, and testing capabilities. With an investment of over ₹9,500 crore and a workforce of 4,000, DICV aims to serve as a key node in Daimler’s global supply and manufacturing chain.