Bengaluru, Aug 9 (ANI): VST Tillers Tractors Ltd. CEO Antony Cherukara exhibits a victory signal in the course of the launch of ‘VST Series 9 Tractors’ (six new fashions), in Bengaluru on Wednesday. (ANI Photo)
| Photo Credit: ANI
VST Tillers Tractors, a Bengaluru-based producer of tractors and tillers, stated it might make investments ₹100 crore to arrange a analysis and growth centre to additional its analysis and innovation for the global farm sector.
Antony Cherukara, CEO, VST Tillers Tractors stated the corporate has already purchased 4 acres of land in Hosur to arrange a global R&D centre.
In the final 3-Four years VST invested one other ₹100 crore in product growth and could be launching a dozen new products by December this 12 months, he stated.
The firm on Wednesday introduced the launch of its Series 9 Range of Compact Tractors: a set of 6 new fashions, in the vary of 18HP to 36HP, all totally designed, developed and manufactured at its Hosur Plant.
The Series 9 vary of smooth tractors have been designed to tackle the rising wants of farm mechanisation in orchards, in horticulture in addition to in conventional agriculture crops and non-agriculture fields. Farmers would have the ability to use the identical tractor in their sugar cane fields and vineyards.
“With these new products, we aim to further establish our leadership position in the 4WD Compact Tractor segment in the country and in global markets. During the last three years we attained a 30% growth, and now anticipating to grow 20% in the next four years,” Cherukara stated.
These multiutility compact tractors include an unbiased PTO (energy take-off), MID PTO, Reverse PTO, totally Synchromesh Gearbox, Electro-Hydraulic Controls (EHC), and Dual Track width Option, straightforward to drive and brief turning radius of two meters, the corporate claimed.
“We now have a complete range of compact tractors, and we are confident that these products will further cement our leadership position in the compact tractor market. Some 55,000 to 60,000 compact tractors are sold in India per annum,” he stated.
Upcoming launches from VST would come with 3 new larger HP tractors anticipated to be in the market in September this 12 months and three different tractors, together with an electrical tractor, meant for the German market. In the subsequent two years, VST would even be getting into the U.S. market, he stated.
VST which is focusing on a income of ₹3,000 crore by 2026, up from ₹1,000 crore in March 2023, additionally has plans to introduce different products for small and marginal farmers.