Iran General NewsMahindra to sell tractors in Iran

Mahindra to sell tractors in Iran

-

Reuters: Top utility vehicle maker Mahindra & Mahindra Ltd. will sell tractors in Iran, after entering an agreement with state-run ITMCo (Iran Tractor Manufacturing Co), the Indian company said on Wednesday. MUMBAI (Reuters) – Top utility vehicle maker Mahindra & Mahindra Ltd. will sell tractors in Iran, after entering an agreement with state-run ITMCo (Iran Tractor Manufacturing Co), the Indian company said on Wednesday.

Under the agreement Mahindra, the world’s number four tractor maker, will supply tractors through ITMCo’s channels and eventually develop tractors to suit local conditions, the company said in a statement.

Officials at Mahindra declined to give financial details about the agreement.

“Iran is a focus market in our strategy to put Mahindra tractors in farms across the world,” the company said.

Shares in the company ended down 1.4 percent at 686.50 rupees in a weak Mumbai market.

Mahindra aims to emerge as the world’s number-one tractor maker in the next five years.

Iran’s ITMCo makes trucks, tractors and industrial tools.

Mahindra also has a joint venture in China with local truck maker Jiangling Motors Co. with an annual capacity of 12,000 tractors.

Latest news

 Statistics show that New Year accidents’ deaths in Iran reached 585

Ahmad Shirani, the head of the Information and Traffic Control Center of the Iranian regime’s police, announced that the...

Land Subsidence in Critical Conditions in Isfahan

Mehdi Toghyani, a member of the Iranian regime’s Majlis (parliament), pointed to the occurrence of land subsidence in various...

Iran’s Actual Inflation Rate Higher Than Official Stats

The state-run Donya-e-eqtesad newspaper, in a report analyzing the "general sentiment" regarding inflation in 2023, has stated that households...

Iranian Workers’ Monthly $136 Wages Can’t Cover $500 Expenses

The lives of a significant portion of the Iranian population are marked by uncertainty, largely because the Iranian economy...

Iranian Nurses Earn Twice Their Wages in Ride-Hailing Services

Reza Aryanpour, a member of the regime’s Majlis (parliament) Health and Treatment Commission, highlighted the growing trend of nurses...

Iran: Unprecedented Record of 152 Million Liters of Gasoline Consumption Per Day

On March 19, Iran set a new historical record in gasoline consumption with 152 million liters consumed in one...

Must read

Time approaching to boost sanctions against Iran: US envoy

AFP: Iran must expect more sanctions to be imposed...

Tehran radio warns of nuclear impasse

AP: Russia signaled opposition Thursday to a European-proposed U.N....

You might also likeRELATED
Recommended to you