Mahindra & Mahindra to introduce third tractor brand Trakstar, targets 30-50 hp market
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Mahindra & Mahindra, the world's largest tractor maker in terms of volumes has taken a new strategic direction in the domestic market by renaming its subsidiary with the Gujarat Government from Mahindra Gujarat Tractors Limited to Gromax Agri Equipment Ltd to target 30-50 horse power tractor market more effectively.
Gromax on Monday launched its all new tractor brand Trakstar which will focus on value seeking farmers and enhance their prosperity said the statement from the company. The Trakstar range will cater to almost 80% of the Indian tractor market. The introduction of a new brand was done as the company a space for all new brand which could look beyond mainstream brands.
Gromax Agri Equipment Ltd is a jointly owned company between Mahindra & Mahindra and the government of Gujarat with equity ratio of 60% and 40%. The JV company which has a plant in Vadodara, Gujarat has brought in new operating management to drive the growth agenda ahead.
Announcing this new initiative, Rajesh Jejurikar, CEO for farm equipment business at Mahindra & Mahindra says Gromax is an important element in the company's journey to acclerate mechanisation in farm and help farmer double their income.
Sanjay Prasad, principal secretary, agriculture, government of India said he is glad to see the enhanced focus of the company and its new products which will help the farming community.
"Our government has charted out a clear road map of farm mechanisation and agriculture development for the welfare farmers to accelerate agricultural modernisation. We are sure that Gromax will play a key role in achevining this vision," added Prasad.
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