The Mahindra Group in association with the China-based Jiangsu Yueda Yancheng has rolled out its 125hp tractor at Yancheng, China.
Mahindra Group vice- chairman and managing director Anand Mahindra and Yueda Group chairman Hu Youlin inaugurated the new JV Company, Mahindra Yueda Yancheng Tractor Company (MYYTCL).
According to a company statement, “This joint venture between M&M and Yueda Groups will combine Indian entrepreneurial and managerial skills with Chinese competitiveness and efficiency and will contribute substantially towards realising our ambition to be the leading tractor manufacturer in the global market.”
The JV has a plant with a manufacturing capacity of 38,000 tractors at Yancheng. This is the Mahindra Group's second tractor venture in China, in addition to its current tractor business, Mahindra China Tractor Company Ltd (MCTCL). Now armed with MCTCL's Feng Shou and MYYTCLs Jinma brands, Mahindra is well positioned in to capture new market share in the fast growing Chinese tractor market.