Mahindra & Mahindra Ltd.’s Farm Equipment Sector (FES), a part of the USD 19.4 billion Mahindra Group, announced that it will manufacture a new tractor series called the ‘K2’, exclusively at the company’s tractor manufacturing facility at Zaheerabad in the state of Telangana. K2 will bring incremental investments of Rs 100 crore into Mahindra’s Zaheerabad facility and double employment in the tractor plant by 2024.
Developed through close collaboration between the engineering teams from Mitsubishi Mahindra Agricultural Machinery of Japan and Mahindra Research Valley, India, the K2 series aims to create a light-weight tractor program for both domestic and international markets including USA, Japan, and SouthEast Asia.
KT Rama Rao, Minister for IT, Industries, MA & UD, Government of Telangana said, “[The] Government of Telangana is very grateful to Mahindra for their new investment in Telangana. K2 tractors have been designed in collaboration with Mitsubishi, and their manufacturing in Mahindra‘s plant in Zaheerabad would be a matter of great achievement for the entire country.”
Rajesh Jejurikar, Executive Director, Automotive & Farm Equipment Sector, M&M mentioned “As the world’s largest tractor manufacturer by volume, Mahindra is on an exciting path to developing the K2 series, one of our most ambitious tractor programs. This project is focused on diversity and scalability, to meet the varied expectations and different regional requirements of customers and markets across the world.”
Mahindra has invested close to Rs. 1,087 crores at its facility in Zaheerabad. The Farm Equipment manufacturing unit employs over 1,500 workers, with a capacity of over 1,00,000 tractors per year on a 2-shift basis.
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