At least one more product is set to emerge soon from the new tractor platform that Mahindra & Mahindra (M&M) has developed and just launched in the Indian market under the Arjun Novo brand.
“We plan to extend it both ways, and will go both lower and higher,” Ravindra Shahane, head, marketing and farm mechanization, M&M Ltd said.
One new product on this platform would come into the market in the next six months, he added.
Shahane was speaking after the launch of the two variants of Arjun Novo – 52 HP and 57 HP – in Pune today. The new products are to be rolled out in ten states in the country by the first week of September.
The new platform has a new transmission, axle settings and drive line amongst other changes. Its development has involved an expenditure of Rs 250 crore while another Rs 50 crore more is expected.
With M&M’s strategy of greater focus on its exports and higher HP models the norm in overseas markets, Arjun Novo is expected to give a fillip to exports.
Last fiscal the company sold 2.57 lakh tractor units in the domestic market, while exports stood at a little over 10,300 units.