DaimlerChrysler entered the Indian market and set up Mercedes–Benz India Ltd. in 1994. In line with DaimlerChrysler’s worldwide corporate philosophy, Mercedes–Benz India Limited was rechristened DaimlerChrysler India Private Ltd. In the last few years, DaimlerChrysler India has extended the product range and been a major contributor to the expansion of the luxury vehicle segment in the Indian market.