Escorts and Kubota combine forces to produce tractors with cutting-edge technology.

Engineering and farm equipment manufacturer Escorts has formed a joint venture (JV) with Japan’s Kubota Corporation to produce high-end technology tractors for domestic and export markets, according to a joint statement released by the two companies on Monday. According to the statement, the JV will utilize Kubota’s technology and engineering expertise of Escorts to appeal to an expanding market for higher efficiency, value-oriented utility tractors in order to achieve a global leadership position. “With an initial investment of Rs 300 crore, the 60:40 manufacturing joint venture between Kubota and Escorts will allow both partners to optimize their current and future capabilities in the segment on a global scale,” the statement continued. The companies stated that the JV’s medium- to long-term objective is to achieve a dominant position on domestic and international markets. Nikhil Nanda, chairman and managing director of Escorts, remarked, “Our global JV with Kubota aims for technology-driven collaborative growth in domestic and export markets.” Masatoshi Kimata, President and Representative Director of Kubota Corporation, stated that Escorts possesses a robust technology heritage and a diversified portfolio in the agriculture equipment solutions market, while Kubota possesses a globally demonstrated technology. “Together, we will serve India and other emerging economies that require cutting-edge technology and modern tractors to meet the rising demand for highly mechanized agriculture,” he added. The Kubota group is present in more than 100 countries and specializes in agriculture, water, and living environment products. On the BSE, Escorts shares were trading 2.72 percent lower at Rs 609.15. MSS SHW ANS

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