Mahindra & Mahindra Ltd has launched a new platform for tractors — YUVO — at Ramoji Film City about 45 km from Hyderabad.
The versatile YUVO platform developed by M&M at its R&D centre located near Chennai in Tamil Nadu has the flexibility to roll out tractors in 32, 35, 40, 42 and 45 HP categories covering 75 per of the tractor industry in the country.
The diversified automotive major said this is the second new platform developed by the company from its Chennai facility within 20 months of the launch of another platform NOVO that handles the 50-plus HP capacity.
M&M is the largest player in the country's tractor market with a market share of 41 per cent.
The company had invested Rs 500 crore in its R&D centre in Chennai, which develops automotives and tractors.
The company said developing a new platform for tractors within a short span of 20 months was a major achievement. NOVO was launched in the second half of 2014.
Pawan Goenka, Executive Director, M&M said, "The YUVO will cater to the evolving needs of the progresssive farmer. The company has invested Rs 250 crore on developing the NOVO platform and Rs 300 crore on the new YUVO platform."
Rajesh Jejurikar, President and Chief Executive, Mahindra & Mahindra Farm Equipment & Two-Wheelers, said,"The immediate focus is on catering to the domestic market which accounts for about 90 per cent of the company business. Going forward the company expects to step up exports, including to the US, in the medium term."
The company management said though the company has a wide portfolio of tractors covering different farm applications, it was looking at plugging some gaps in both the lower capacity and higher capacity tractors.