International Tractors to invest Rs 1,000 crore in new plant, Research operations

Homegrown tractor maker, International Tractors, which offers its Sonalika and Solis-branded tractors in the Indian and international markets such as Myanmar, Czech Republic, and Germany, has outlined its plans to invest in a dedicated manufacturing facility for exports.

New range of tractors

The company unveiled its new range of five tractors for international markets at its Global Partners Summit (GPS) 200 event, which saw participation from ITL’s over 200 international channel partners in New Delhi, on October 14. The new export-oriented product range includes ITL’s N Series, C Series, S Series, H Series, and the all-electric SV Series of tractors, ranging from 16hp to 125hp in power output, and catering to various agricultural needs. The new products boast advanced technologies and modern design.

Overseas Market

The company forayed into overseas markets such as those in Europe, North America, Asia, and Africa, in 2010. The company has achieved a seven-fold growth in this timeframe. They have grown its exports from 5,070 units in FY11 to 35,160 units in FY23.  It continues to remain the top tractor exporter from India for the fourth consecutive year since FY19. The company is widening the gap with its main competition which includes John Deere, Mahindra & Mahindra, and New Holland.

Eyeing growing acceptance and demand for its products in global markets. The company has announced an investment of Rs 850 crore in a dedicated tractor manufacturing plant. This will be ready by end-2025, and will be situated adjacent to its existing facility in Hoshiarpur, Punjab. The new facility will have an annual capacity to produce 100,000 tractors. It will export made- in-India tractors which will retail through its over-3,000-strong channel partner network globally.

Also Read: New STEYR Plus Tractors Nominated for Farm Machine 2024

The state-of-the-art facility will be equipped with modern assembly lines that will roll out one tractor every two minutes. “We will invest close to Rs 850 crore over the next two-three years in technology upgradation with a new facility in Hoshiarpur. The plant will have three different assembly lines that will be able to produce three different product lines simultaneously. We will see bigger, more powerful tractors that will be equipped with new engines, transmissions, and sheet metal come out of this facility,” said Raman Mittal, Executive Director, ITL.

With the commissioning of the upcoming plant, the company will gradually phase out its oldest 100,000-unit assembly line. This is done to keep the total installed capacity unchanged at 300,000 annual units.