 "Rajesh Jejurikar, Farm Equipment Sector, M&M, Mahindra & Mahindra, Mahindra Gujarat Tractor, Mahindra, Gromax Agri Equipment, Gromax")
Mahindra Gujarat Tractor (MGTL), the joint venture (JV) between Mahindra & Mahindra and Gujarat government in the ratio of 60:40, has been renamed on Monday as Gromax Agri Equipment (GAEL). And, under the JV, a new tractor brand was launched called as Trakstar.
Trakstar will be offered in five segments within 30-50 horse power (HP) category and will compete with 80 per cent of the industry. Both the parties — Mahindra and Gujarat government — will be investing Rs 150 crore into Gromax in 3-5 years period for product development. And, investment will be in the ratio same as partnership ratio.
