VST Tillers Tractors, a Bengaluru-based manufacturer of tractors and tillers, said it would invest ₹100 crore to set up a research and development centre to further its research and innovation for the global farm sector.
Antony Cherukara, CEO, VST Tillers Tractors said the company has already bought four acres of land in Hosur to set up a global R&D centre.
In the last 3-4 years VST invested another ₹100 crore in product development and would be launching a dozen new products by December this year, he said.
The company on Wednesday announced the launch of its Series 9 Range of Compact Tractors: a set of 6 new models, in the range of 18HP to 36HP, all fully designed, developed and manufactured at its Hosur Plant.
The Series 9 range of sleek tractors were designed to address the growing needs of farm mechanisation in orchards, in horticulture as well as in traditional agriculture crops and non-agriculture fields. Farmers would be able to use the same tractor in their sugar cane fields and vineyards.
“With these new products, we aim to further establish our leadership position in the 4WD Compact Tractor segment in the country and in global markets. During the last three years we attained a 30% growth, and now anticipating to grow 20% in the next four years,” Cherukara said.
These multiutility compact tractors come with an independent PTO (power take-off), MID PTO, Reverse PTO, fully Synchromesh Gearbox, Electro-Hydraulic Controls (EHC), and Dual Track width Option, easy to drive and short turning radius of 2 meters, the company claimed.
“We now have a complete range of compact tractors, and we are confident that these products will further cement our leadership position in the compact tractor market. Some 55,000 to 60,000 compact tractors are sold in India per annum,” he said.
Upcoming launches from VST would include 3 new higher HP tractors expected to be in the market in September this year and 3 other tractors, including an electric tractor, meant for the German market. In the next two years, VST would also be entering the U.S. market, he said.
VST which is targeting a revenue of ₹3,000 crore by 2026, up from ₹1,000 crore in March 2023, also has plans to introduce other products for small and marginal farmers.
