MAN Truck and Bus AG of Germany is buying out its Pune-based joint venture partner Force Motors, in the venture that makes trucks and buses, for about Rs 950 crore (?150 million). The joint venture, founded in 2006, makes heavy trucks for the domestic and export markets. MAN Truck has said that this investment underlined the significance of the Indian market in the context of the BRIC (Brazil, Russia, India, China) strategy. Formed in April 2006, Man Force Trucks (MFTPL) is a 30:70 joint venture between MAN and Force, with MAN investing ?150 million. In December 2008, it had increased its stake to 50 per cent, by buying out, amongst others, 14.2 per cent of Force Motors' equity holding for ?49 million. The current production in India stands at 4,000 trucks annually.