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Farm equipment manufacturer VST Tillers Tractors Ltd is set to enter the US market in two years, said company CEO Antony Cherukara. Speaking at the launch of six of the Series 9 Range of Compact Tractors on Wednesday, he said the company would launch three more higher horsepower tractors this September and three more in Germany, including an Electric Tractor in November.
“The company is planning an investment of Rs 100 crore in R&D and will set up a global R&D centre,” he said. Over the last 3-4 years, the Bengaluru-headquartered company has invested Rs. 100 crore invested in product development.
The company is on track to become a Rs. 3000 crore global brand in diversified farm mechanization products and solutions by 2026, as per their five-year Vision, said Cherukara. VST Tillers crossed the milestone of Rs. 1000 crore revenue during FY 2022-23
The company is projecting a growth of 20% over the next four years, and will be launching more products for small and marginal farmers. “The launch of the new Series 9 tractors is in line with VST’s commitment towards Farm Mechanization of multiple crops and enriching the lives of Indian farmers,” said Cherukara.
The company, which attained 30℅ growth over the last three years, expects to grow to 2000 dealerships soon from the current 1000 dealerships.