Monarch Tractor, maker of the first fully electric, driver-optional, smart tractor, today announced it is expanding its footprint into India with the opening of its first office in the city of Hyderabad.
According to a press release from Indian tractor manufacturer Escorts, the company "has received requisite approvals for the name change of the Company from 'Escorts Limited' to 'Escorts Kubota Limited' with effect from June 09, 2022."
Kubota upped its interest in Indian tractor manufacturer Escorts to 44.8% from 9.09% upon completion of a preferential offering by Escorts and an open offer to the latter's shareholders.
According to a recent report from Zeebiz, Antony Cherukara, CEO of Indian tractor manufacturer VST Tillers Tractors, a recent investor in Monarch Tractor, stated Monarch would launch its all-electric, autonomous tractor in VST Tiller Tractor's fiscal year 2023.
Yanmar’s goal of building small diesel engines in India for the domestic and export markets has been achieved after significant delays to the original plan.
According to a report from Mint, Kubota will receive an over 50% stake in Escorts by the end of March and "lay down a mid-term business and investment road map for Escorts Kubota, the new entity."
According to a recent report from The Economic Times, citing "people aware of the matter," Kubota is in talks to increase its stake in and eventually become a "controlling shareholder" of Indian tractor manufacturer Escorts.
According to a report from India Info Online, VST Tillers Tractors, an Indian farm equipment manufacturer, has signed an agreement with Export Trading Group to distribute tractors, tillage and harvesting equipment and diesel engines in the South African market.
The Yokohama Rubber Co. has announced that it has decided to invest in additional production capacity at the Visakhapatnam Plant now under construction in India in order to further expand the production capacity of Yokohama Off-Highway Tires (YOHT).
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In this episode of On the Record, brought to you by Associated Equipment Distributors, we take an initial look at the Dealer Business Outlook & Trends Report and what dealers are forecasting for 2025.