Representative image.
Swaraj Tractors, a part of Mahindra Group, on Monday said it has invested Rs 200 crore to develop a new range of tractors in the 40-50 HP category to cater to evolving needs of farmers. The company said the new products will eventually replace its current tractors in the category.
In an interaction with PTI, Mahindra & Mahindra (M&M) Swaraj Division Chief Executive Officer Harish Chavan said the new products have been developed to cater to demands of modern-day agriculture.
“The new range comes with a new set of features, different set of agri applications. We want to be future ready and that is why we are introducing the new tractors,” he noted.
It’s a mass market range right from trims with less features to variants with high-end features like four-wheel drive, to cater to different requirements, Chavan said, when asked to elaborate on the new tractors.
About the investment by the company to develop the new tractors, Chavan said, “We have invested close to Rs 200 crore on the project.”
The 40-50 HP segment accounts for almost 50 per cent of sales in the domestic tractor industry.
Swaraj rolls out tractors from its two manufacturing plants in Mohali, Punjab.
“A third plant is also in the offing. It is likely to come up by the third quarter. In the fourth quarter we will operationalise it. The plant is in the last stage of implementation,” Chavan said.
The new tractor range is priced at Rs 6.9 lakh (42 HP) for the base variant and goes up to Rs 9.95 lakh for the 50 HP top-end model.
Last month, M&M had unveiled a new range of small-sized tractors based on the OJA platform to target new geographies.
M&M aims to double its tractor exports in the next three years.
Keyword: Swaraj Tractors invests Rs 200 cr to roll out new models