The new K2 series is Mahindra's most ambitious light-weight tractor programme. It has four platforms and the company will introduce 37 models in various horsepower (HP) ratings for domestic and international markets, including the US, Japan and South East Asia, M&M said in a regulatory filing.
This growth is expected to be driven by higher farm income despite the COVID-19 pandemic, and the demand growth is expected to be particularly strong in the southern and western parts of India given higher kharif sowing and a copious monsoon.
The company has set up a manufacturing unit in Thekkalur near here with an investment of Rs 35 crore and the vehicles were in testing stage and commercialised in another two months, CK Motors Business Head Dr C Gunasekaran told reporters here.
During April-September period of this fiscal, tractor sale volumes grew 10 per cent year-on-year, the report stated, adding three consecutive good crop harvests and a likely strong harvest of kharif 2020 will spur demand for tractors over the remaining FY21-FY22.
"Our Treo platform demonstrates our commitment to Aatmanirbhar Bharat through the latest technology and make in India. The Treo Zor will provide a clean, sustainable and affordable solution for last-mile delivery," Mahindra & Mahindra Ltd's MD and CEO Pawan Goenka said at the launch.
Tata Motors has bagged the order for 6,413 vehicles from the Andhra Pradesh State Civil Supplies Corporation, the company said. It added that the fully-built Tata Gold Ace mini trucks are to be used as mobile-dispensing units for the doorstep delivery of supplies in Andhra Pradesh, and will be customised to suit the application.
"Currently, Touro is undergoing pilot runs at leading e-commerce logistics companies in Hyderabad, Delhi and Bangalore," it said, adding that the passenger variants of the new electric three-wheeler shall be launched in the next few months during which the company plans to set up its dealership network in select locations.
The new Mahindra Treo electric auto is now completely designed and developed in India and offers best-in-class performance with higher speed of 55 kmph and better acceleration from 0-20 kmph in just 2.3 seconds, the company said in a statement.
With domestic traffic expected to drop by 50% and international traffic by up to 60% this fiscal, demand for tractors is expected to remain in the aviation industry. The Indian construction too is expected to contract by 7.5% in 2020, which would result in a decline in tractor demand in the construction sector.