Bengaluru, Aug 9: Farm equipment manufacturer VST Tillers Tractors Ltd, on Wednesday announced the launch of six compact tractors.
The six new Series 9 models, in the range of 18HP to 36HP, were designed and developed at the company’s Hosur plant.
The company would launch three more higher HP tractors in September, its CEO, Antony Cherukara, said, adding that three more tractors would be launched in Germany, including an electric one, in November.
“Investment of Rs 100 crore in R&D is planned and a global R&D centre will be set up”, a company statement quoted him as saying.
During the last three years, the company attained 30 per cent growth, and it is expecting to grow 20 per cent in the next four years, the statement said.
In two years, the company is going to enter the US market, Cherukara said.
The company is on target to achieve Rs 3000 crore revenue by 2026.
During the last three-four years, the company invested Rs 100 crore in product development.
The company is expecting to grow to 2000 dealerships soon from the current 1000, the statement added. (PTI)
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