Sonalika Tractors to invest Rs 200 crore in setting up of new R&D centre

MUMBAI: North India based Sonalika International Tractors Limited (ITL) is planning to invest Rs 200 crore in setting up of the new Research & Development centre in the National Capital Region to devise farming solutions of the future.This new tech centre will help the company reduce product development lifecycle and thereby help the company achieve its goal of doubling annual sales to 2 lakh units in the coming five years.This new facility will help to further offer innovative farming solutions through technological up-gradation, new emission regulations and reducing the product development cycle, the company said in a statement.The company will be additionally investing Rs 250 crore in the development of new product platforms to meet the stringent emission norms of the future and product requirement for the global markets and upgrading the manufacturing facility.Raman Mittal, Executive Director, Sonalika Group, said the new Innovation center in Delhi NCR is in line with company’s core belief of being farmer centric by constantly providing innovative and technologically superior products.“This is the first step towards our new vision of 2 lakh tractors by 2023-24. This facility will be a fully functional development center to produce all aggregates & all prototypes with latest state-of-the-art test facility. To closely translate the demands of the farmers into farm mechanization solution, we are recruiting over 150+ domain experts for this new set up,” added Mittal.

from The Economic Times https://ift.tt/2IYXE3L