M&M invests in new tractor range

Mahindra and Mahindra Ltd.’s (M&M) Farm Equipment Sector, which manufactures tractors, is investing Rs1 billion (US$20 million) on product development this fiscal year ending 2010. Anjani Kumar Choudhari, the company’s president, said that this is largely intended to replace old models and modernize its product portfolio, in addition to “improving [vehicle] ergonomics”. On the drawing board is a low-cost tractor scheduled for launch in the middle of the year. Plans are also under way to develop alternative fuel tractors. With all these plans for development, however, M&M denied there will be capacity increases for its factories, as Choudhari insisted there is still enough room in the company’s plants. (April 15, 2009)