Indian-based tractor and farm machinery manufacturer Escorts has formed a joint venture with Japan’s Kubota Corporation.
Escorts is probably best known in western Europe through its Farmtrac (tractor) product range.
The deal involves the “manufacture of tractors for domestic [Indian] and export markets”.
The joint venture is intended to leverage Japanese technology from Kubota and Indian engineering know-how from Escorts to develop “value-oriented utility tractors”.
Indian manufacturer Escorts is probably best known in western Europe through its Farmtrac (tractor) product range
The 60:40 manufacturing joint venture between Kubota and Escorts is being described as a development for the medium-to-long term.
Commenting on the deal, Nikhil Nanda, chairman and managing director of Escorts, said: “Escorts is evolving into a global organisation through strategic technology and manufacturing collaborations.
Our global joint venture with Kubota is aimed at technology-led collaborative growth in domestic and export markets.
“With our inherent strengths, distribution and engineering benchmarks, together we will access global markets and take a journey to global leadership.”
Masatoshi Kimata, president and representative director of Kubota Corporation (Japan), added his comments, saying: “We are excited to announce our partnership with Escorts Group.
“Escorts has a strong technology legacy and [a] diversified portfolio in agricultural equipment solutions. Kubota has proven global technology. Together, we will cater to India and other growing economies, which require high-end technology and new-age tractors for [the] growing demands of highly-mechanised farming.
“Kubota and Escorts, together with their leadership in respective markets, will consolidate [their] strengths and technology to emerge as a global leader.”
Hitting the headlines
Last year, Escorts hit the headlines when it launched its first electric tractor. It also unveiled plans for new diesel-powered models under its Farmtrac (pictured below) and Powertrac brands.
