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Escorts forms JV with Kubota to make high end tractor

Auto News - Published on Wed, 12 Dec 2018

Image Source: Sharp Reports
Economic Times reported that Indian engineering firm Escorts has entered into a technology collaboration with Japanese tractor and heavy equipment maker Kubota Corp to jointly manufacture high-end, value-oriented utility tractor range to cater both domestic and export markets. Under this 60:40 JV, Kubota will export Escorts tractors through Kubota Global Distribution network in the specific market. With an initial investment of INR 300 crores, both the companies will establish new common manufacturing having an initial capacity of 50,000 units. Mr Nikil Nanda, Chairman and MD, Escorts said that “Escorts is evolving to a global organization through strategic technology collaborations and quality alliances. Our global Joint Venture with Kubota brings proven Japanese process excellence and quality benchmarks for a technology led collaborative growth in domestic and export markets."

Meanwhile, the pair will continue to develop their distribution channel in India independently, Escorts informed. However, both the companies will continue to share their technology platforms for mutual growth along with some greenfield opportunities in future.

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Posted By : Joykumar Irom on Wed, 12 Dec 2018
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