Under the agreement, Iseki will offer product technology to TAFE for manufacturing these products for the Indian market. The agreement also covers sourcing of components/assemblies through TAFE, which will also sell Iseki’s premium light utility compact tractors in the 35hp to 54hp range in India. The first models are expected off the production line at TAFE’s Madurai plant by 2020.
“This agreement brings together Iseki’s rich experience in the light utility compact tractor segment globally and TAFE’s strong position in the Indian market, to offer Indian customers an international product range,” said TAFE chairman and CEO Mallika Srinivasan.
Founded in 1926, Iseki’s products enjoy a strong market presence in Japan, South East Asia, Australia and the US. Iseki, which claims to be the third largest Japanese agricultural machinery manufacturer for tractors, planting and harvesting machinery while also manufacturing tractors for AGCO.
“We will enter into the largest tractor market in the world, India and the Indian subcontinent with the greatest partner,” said Iseki chairman Akio Kikuchi, who added that the two companies will collaborate as important partners not only for India but also for Iseki’s global long term strategy.