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M&M bets Oja will help double tractor exports
Mint Mumbai
|August 16, 2023
New platform for 4 tractor categories built at an investment of ₹1,200 cr
Mahindra & Mahindra Ltd, the world’s largest tractor company by sales, is eyeing a bigger chunk of a growing global market for light-weight, four-wheel drive tractors with its new platform, Oja, unveiled on Tuesday.
According to a top company executive, Oja, built at an investment of ₹1,200 crore, is an entirely novel venture for the company, whose expertise has been rooted in “heavy, rugged" tractors.
Mahindra will build multiple models on the platform across four categories—sub-compact, compact, small utility and large utility segments—with seven products set to hit the Indian and foreign markets later this year. The company expects the platform to help double export volumes from FY23’s 18,000 units to around 36,000 by FY27, said Hemant Sikka, president, farm equipment sector, Mahindra & Mahindra in an interview with Mint on the sidelines of an event in Cape Town to showcase the new platform.
This story is from the August 16, 2023 edition of Mint Mumbai.
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