Mahindra and Mahindra, the biggest tractor maker globally by way of volumes, is concentrating on a much bigger push in key world markets with a brand new light-weight tractor platform known as Oja.
The homegrown firm already has a large world presence. It has product improvement services in India, Japan, Turkey and Finland. It additionally has crops in these markets, in addition to USA, Algeria and Australia.
The brand new Oja tractor platform has been inbuilt collaboration with the engineering groups of Mahindra and Mitsubishi Mahindra Agriculture Equipment, Japan, at an funding of Rs 1,200 crore.
Oja will embody 4 platforms, three of which have been unveiled on Thursday, August 15 at an occasion in Cape City, South Africa. The tractors primarily based on these platforms will vary from 20 horsepower (HP) to 70 HP.
The Oja platform provides Mahindra the merchandise to develop within the light-weight tractor market and deepen its penetration in areas like horticulture.
For a begin, Mahindra will launch 7 tractor fashions (21-40 HP) underneath the Oja model in India this 12 months. Whereas manufacturing started in June, gross sales will begin starting October.
After India, the Oja vary will subsequently be launched in North America, ASEAN, Brazil, Australia, South Africa, Europe and the SAARC area.
Mahindra can even mark its debut within the ASEAN area beginning with Thailand in 2024 with Oja.
“Our export volumes within the 2022-23 monetary 12 months have been 18,000 models. We plan to double exports in three years,” stated Hemant Sikka, president – farm tools sector, Mahindra and Mahindra.
The tractors will probably be made at Mahindra’s manufacturing plant in Zaheerabad, Telangana.
Mahindra’s farm tools enterprise clocked income of Rs 32,000 crore within the final monetary 12 months.
The general tractor trade in India clocked gross sales of round 9.45 lakh models final 12 months. Mahindra, TAFE, Sonalika, Escorts and John Deere are among the many high gamers within the tractor market.
Mahindra (together with the Swaraj model) had a market share of over 41 per cent within the home market in 2022-23. Nonetheless, within the light-weight area, its market share is decrease at 30 per cent, which it goals to develop to the nationwide scale with this Oja vary of tractors.
“Oja tractors empower Mahindra to handle 25 per cent of the worldwide tractor trade whereas opening new markets like Europe and ASEAN,” stated Sikka.
In India, the corporate has round 1,100 sellers and it plans so as to add one other 200 within the subsequent couple of years.
The Oja tractor vary will introduce new know-how and capabilities like 4-wheel drive, linked tech options and automation within the Indian market.
The Oja compact 27 HP tractor has been priced at Rs 5.64 lakh, and the small utility 40 HP variant will value Rs 7.35 lakh.
