Mahindra & Mahindra today renamed its joint venture with the Gujarat government, Mahindra Gujarat Tractors, as Gromax Agri Equipment Ltd while also launching a new brand, Trakstar, under the partnership.
A range of tractors in 30-50 HP (horse power) category under the Trakstar brand will be introduced as part of a new strategic direction for Gromax Agri Equipment, M&M said in a statement.
This brand will focus on value seeking farmers, it said adding Gromax would provide affordablemechanisation solutionsto the farming community.
Gromax Agri Equipment is a 60:40 JV between Mahindra & Mahindra (M&M) and the Gujarat government. Commenting on the development, M&M President - Farm Equipment Sector Rajesh Jejurikar said: "Gromax will be an important element of our journey of transformation towards a higher penetration of farm mechanisation, enabling farmers to double their income."
The Trakstar range of tractors will compete in 80 per cent of the industry, he added.
Gujarat Principal Secretary, Agriculture Sanjay Prasad said Gromax would play a key role in achieving the state government's roadmap for farm mechanisation and agricultural development for welfare of farmers to accelerate agricultural modernisation.
"We are glad to see the enhanced focus of the company and its new products which will help the farming community," Prasad added.
Trakstar is the third range of tractors from the stable of M&M after Mahindra and Swaraj tractors.
Gromax has brought in a new management which will drive the growth agenda forward. It has an existing plant in Vadodara, the company said.
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