Mahindra to roll out new tractor after seven years

After seven years, India’s Mahindra & Mahindra Ltd. (M&M) will launch a new tractor. “It has been a very long time since we launched a new tractor,” said Pawan Goenka, M&M president, Automotive & Farm Equipment Sectors. The new tractor will be designed at the company’s new Mahindra Research Valley and will be built at its Nagpur plant. But in the future, tractors will be built at the company’s new plant in Jehirabad in Andhra Pradesh. The Valley, which cost Rs 650 crore (US$120.7 million), is located on 125 acres inside the Mahindra World City. M&M said that constructing the Valley was a step towards the company’s goal of becoming one of the world’s top 50 most-respected brands. (April 12, 2012)