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 joint venture is intended to leverage Japanese technology from Kubota and Indian engineering know-how from Escorts to develop “value-oriented utility tractors”.
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.