Federal Bank partners with JCB India for Equipment Financing
Federal Bank signed a Memorandum of Understanding (MOU) with JCB India, a leading manufacturer of Earthmoving and Construction equipment recently. This arrangement will boost the financing options for JCB’s customers in India.
As per the arrangement, Federal Bank is the preferred finance partner of JCB, where JCB’s customers can avail loans from Federal Bank at competitive interest rates for purchasing a wide range of world-class equipment from the product line of JCB India Ltd. Speaking at the Occasion of signing this MoU, Deepak Shetty, CEO and Managing Director of JCB India said: “We are delighted to have signed this memorandum of understanding with Federal Bank for the financing of JCB machines for our customers. With the Government’s focus on infrastructure development continuing to remain strong, there will be various opportunities to create synergies between the teams from JCB India and Federal Bank. Importantly, it will give greater financing options to our customers while purchasing JCB machines both in Urban and Rural India.”
JCB is committed to giving the best solutions for equipment financing to its customers. The teams will be working together to give innovative financing solution to its customers.
During the occasion, Shyam Srinivasan, Managing Director and CEO, Federal Bank said, “Today, we officially become the financing partner for JCB India. This partnership would prove to be hugely beneficial to a segment of customers who are looking for easy finance options to take their business forward. We are confident this association will help remove barriers between Bharat and Atmanirbhar Bharat.”
Ashok Leyland delivers 150 vehicles to Tanzanian Police Force
Ashok Leyland, the flagship Company of the Hinduja Group and India’s leading commercial vehicle manufacturer delivered 150 trucks and buses to the Tanzania Police Force. The vehicles were handed over by H.E. Binaya S. Pradhan, Indian High Commissioner, Tanzania and Amandeep Singh, President, Ashok Leyland to the Ministry of Home Affairs at the Police Head Quarters, Dar Es Salaam. On behalf of the Minister of Home Affairs, Hon. Deputy Minister of the Ministry of Home Affairs– Jumanne Abdallah Sagini, received the vehicles in the presence of other delegates present from the police force.
The supplies are a part of contract signed between Ashok Leyland and the Ministry of Home Affairs, Tanzania, and financed through a long term soft loan extended by Export Import Bank of India, Government of India. The vehicles delivered included Police Staff Buses, 4X4 Police Troop Carriers, Ambulances, Recovery trucks and other logistic vehicles for Police support services.
The Deputy Minister, Jumanne Abdallah Sagini thanked the Indian government and Ashok Leyland for delivering the vehicles to Tanzanian Police Force and said “India has always been a valuable partner in the growth of Tanzania, and we will continue working together for the mutual benefit of the two countries.”
Speaking on this occasion, H.E. Binaya S. Pradhan, Honourable Indian Ambassador said, “India and Tanzania are two of the oldest friends with over 60 years of association. Tanzania is India’s biggest development partner in the African continent, with more than $ 1.1 Bn of line of credit, and a duty-free trade scheme encouraging trade between the countries.”
Amandeep Singh, President, Ashok Leyland expressing sincere gratitude to the Hon’ble Indian High Commissioner for facilitating this funding from India and the support provided for the execution of the project said, “It reflects our commitment to support Government of Tanzania and we deeply value our long-standing relation. These 150 vehicles will get added to the 475 Ashok Leyland vehicles which are already in operation with the Tanzanian Police Force across the country”.
Amandeep Singh also praised the Tanzanian government for their trust in Ashok Leyland as logistic partners, and wished to strengthen the partnership.
The Tanzania Police Force currently has a fleet of 625 Ashok Leyland vehicles and further vehicles are planned for delivery in the coming months. This is expected to boost the overall efficiency of the Police Force thereby ensuring safety and security of the public all over the country.
Sany Bharat signs MOU with Union Bank of India
With an aim to make equipment financing an easy, efficient, and simple process, Sany Bharat recently signed a Memorandum of Understanding (MOU) with Union Bank of India. As per the agreement, the network of Union Bank will extend equipment finance to customers of Sany Bharat across the country and in turn the Bank’s portfolio under equipment finance is likely to strengthen and get a wider reach. While both the parties have agreed to pool their resources and capabilities for mutual benefits, buyers of Sany equipment can now avail a loan of up to 90% of the equipment cost. The flexible payment options offered by the bank will facilitate Sany customers to manage cash flow and help in loan repayment. The wide spread presence of Union Bank is expected to facilitate Sany’s customers pan India and thereby fortify infrastructure growth which is significant towards creating a Naya Bharat.
The Memorandum of understanding was signed at Mumbai by Dheeraj Panda, Chief Operating Officer (Sales, Marketing & Customer Support) Sany Heavy Industry India Pvt. Ltd and CM Minocha, Chief General Manager , MSME, Union Bank of India.
Speaking on the occasion Dheeraj Panda said, “We are delighted to be associated with Union Bank of India, considered to be a pioneer amongst PSU Banks. By enhancing their focus on MSME sector, union bank of India has eased the financial burden for our existing and potential customers.” Speaking about the significance of owning a Sany equipment, he further said, “It’s a well-known fact that Sany equipment signify quality, productivity and versatility. By joining hands with Union Bank of India, interest rates will no longer prevent our buyers in becoming a proud owner of Sany equipment. Our association with Union Bank will not only be mutually beneficial but has the potential to herald amazing growth prospects for our customer sand stakeholders alike.”
As per recent reports, Union Bank of India has opened funding for retail and construction Equipment Sector from 10 lakhs loan to Rs.50 Crores.
Caterpillar expands remote control offering
Caterpillar says that their 349, 352, 374 and 395 large excavators in the 40 to 95 tonne category can now be equipped with Cat Command for Excavating.
The remote-control system is said to remove operators from potentially hazardous jobsite conditions and reduce potential safety risks from climbing on and off machines.
The Cat Command station allows for non-line-of-sight remote control, where users can comfortably control all basic machine functions like digging, lifting, and tracking. Caterpillar says that the technology can help improve machine productivity on various projects like operating in unstable underfoot conditions, brownfields, shore work, and demolition. It also allows production to restart immediately following disruptive processes such as blasting in quarry applications. By removing the operator from the cab, Caterpillar believes that the Command for Excavating technology offers a solution to workforce shortages and training advantages for newer operators. It also opens opportunities to those with physical limitations that prevent them from climbing into the equipment, attracting a new generation of workers, and increasing the longevity of experienced operators.
Kranpunkten invests in 130 electric scissors
Swedish rental company Kranpunkten has placed an order for 130 electric scissor lifts from Dingli. The all-electric lifts, which are expected to enter the market in the first quarter of 2023, include the JCPT1923DC self-propelled rough-terrain scissor lift and the JCPT1012PA oil-free unit.
According to the company, the order will enable it to meet the sustainability needs of its customers with a “gradual conversion to more electric and hybrid-powered units.”
Kranpunkten says it has seen an increasing demand for sustainable machines from its customers, and the latest order means it can provide them with “sustainable benefits.”
The delivery also means that 84% of the machinery owned by Kranpunkten is now made up of environmentally and energy-saving machines, and is the latest in a string of moves in its strategy to become 100% climate neutral. In the last year the company has continued to invest in green machinery, with notable orders placed with Genie, NiftyLift, JLG, Magni and Ruthmann.
As well as reducing emissions of its machines, Kranpunkten is also phasing out substances that are hazardous to the environment and health, and are reducing energy consumption and waste.
The JCPT1923DC has a working height of up to 19m and maximum load of 750kg, while the JCPT1012PA has a working height of up to 10m and maximum load of 450kg, and comes without hydraulic systems and with lower energy consumption.
Volvo Penta takes parallel paths to alternative power
The dual-fuel hydrogen engine combines Volvo Penta’s D8 engine with a hydrogen add-on kit and tank system Given the vast array of applications and requirements in the industrial sector, power system suppliers must hedge their bets when it comes to the alternatives that can help customers achieve carbon neutrality objectives. Volvo Group is no exception.
The company has chosen to follow three different technology paths in parallel, said Prabhakaran Sundaramurthi, Vice President, Product Management – Industrial Business Unit, Volvo Penta, including battery-electric and hybrid systems, alternative fuel-based internal combustion engines and hydrogen fuel cells.
“On top of this, we also need to adapt these solutions to our customers, because we have a wide variety of applications, a large number of OEMs. So, we have to meet the individual requirements,” Sundaramurthi said. “Most importantly, we have to be technology agnostic, because there is no one solution that will meet all the needs.”
New steps along these paths were featured in the Volvo Penta booth at Bauma 2022, including a new battery configuration that expands the company’s electromobility offering as well as a dual-fuel hydrogen engine pilot project.
Electromobility takes new shape
The cube battery joins Volvo Penta’s existing flat-pack battery to provide installation flexibility for OEMs seeking to electrify vehicles and equipment. The cube battery, which derives its name from its physical shape, measures 768mm x 684 mm x 668 mm.
“This system can deliver 90 kW hours of energy. The cells are grouped together into modules, which make up the battery pack,” said Sundaramurthi. The cube battery provides 173 kW peak power and 99 kW continuous power, while the flat-pack battery, which is rated 94 kWh of energy, provides 97 kW peak power and 91 kW continuous power.
The cube battery can be easily stacked to deliver more energy density. The electric platform shown at Bauma featured a nominal voltage of 600 V and included the battery pack, two electric motors rated up to 200 kW, the battery management system, gearbox, inverters, junction box and high-voltage cables – all packaged as a system.
“Volvo Penta is taking a system solution supplier approach,” Sundaramurthi explained. “We not only supply the batteries but on top of that varying degrees of motors in different combinations; gearboxes; active cooling units and compressors if you want to use it for brakes; inverters; onboard chargers; high-voltage cables; junction boxes; and different types of control units. We do this to secure consistent performance during the lifespan, as well as to secure the desired reliability and durability and, most importantly, safety.”
The company will work with OEM customers to develop customized electric driveline solutions to meet specific machine and application needs. “We will be working extremely close together with our customers from the very beginning. We don’t see this as a transactional business anymore; it’s more [that] we will develop this solution together because we are reliant on each other very much through the whole process,” said Eduardo Araujo, product manager, Volvo Penta. “For all applications, we open a dedicated project to dimension to really have the best ratio of size, installation, everything. So, we’re really guiding the customer through this transformation.”
With diesel, customers may spec a higher power rating than what is actually required for the application. “With this, they cannot do that,” said Araujo. “This has to be dimensioned for the application, and we’re focusing on building partnerships and long relationships with the customers.”
Also shown at Bauma was a dual-fuel hydrogen engine based on Volvo Penta’s D8 8 L diesel engine. Developed in collaboration with CMB.Tech, the dual-fuel model combines the base D8 engine with a hydrogen add-on kit and tank system. Component level changes largely consist of an intake manifold for the hydrogen and the control unit, said Sundaramurthi.
Due to the limited changes in its footprint, the engine can not only be spec’d for new installations but used as a retrofit when repowering existing fleets, he continued. And while designed to use hydrogen as the primary fuel source, the flexible, variable-speed, Stage V/Tier 4 Final engine can run on traditional fuel if hydrogen is not available.
“You can go up to 80% replacement with hydrogen,” Sundaramurthi said, adding that some diesel must still be injected to aid the combustion process. “The substitution percentage depends on the load conditions. It varies between 30% to 80%. How much gas and fuel is determined by the control unit.
“By adding hydrogen (to the extent of 80%) into the fuel mix, you can reduce the CO2 footprint of this engine by up to 80%.”
The first engines will begin working in end customers machines in Europe in 2023 as part of a market pilot project, which will be followed by limited series production. According to Volvo Penta, it will be a stepwise introduction based on market and customer demand.
“The most important thing is the availability of green hydrogen,” Sundaramurthi added. “It is subject to availability of hydrogen and the hydrogen dispensation and distribution. We have to work together with the equipment manufacturers as well as with the end customers on how to handle this in a good way. So, we will take this in steps.”
Sandvik to acquire mine optimisation software provider
Sandvik has signed an agreement to acquire Polymathian Industrial Mathematics (“Polymathian”), an Australia-based provider of advanced mine optimization software and services.
Polymathian’s product offering includes mining operations optimisation and simulation software for areas such as extraction process, material flow, energy and fuel consumption, and maintenance efficiency.
Polymathian will be a part of Business Unit Deswik and remain OEM (Original Equipment Manufacturer) agnostic. Sandvik says that the acquisition will enable them to further accelerate the development of its end-to-end optimisation, BEV (Battery Electric Vehicle), and AutoMine offerings.
“With the acquisition of Polymathian we continue to broaden our offering to enhance productivity in our mining customers’ value chain. Polymathian’s automated decision-making and process optimisation, together with Deswik’s software tools for planning and managing production, represent a unique combination in the market,” says Stefan Widing, President and CEO of Sandvik.
New features for Sennebogen demolition excavator
At the demolition site, two factors determine the success of a project: high safety and time- and cost-saving solutions.
German equipment manufacturer Sennebogen believes it has met both requirements with its multifunctional 830 Demolition machine. The new demolition machine now reaches a height of 23 m (75 ft). It showed the 48 t demolition machine at the recent Bauma exhibition with two new equipment features.In addition to three-part demolition equipment with a maximum pin height of 23 m (75 ft), the machine also features a fully hydraulically unloadable counterweight. Thee 830 Demolition machine, which is described as suited to applications in inner-city sites, has an outrigger with a standing width of up to 4.5 m (14 ft 9 in) and an elevating cab that can be tilted up to 30 degrees and give the operator a view of the equipment that keeps them clear of the danger zone, while an optional unloadable counterweight reduces transport weight by around 10 t. According to Sennebogen, the new longfront equipment for the 830 Demolition enables “even greater distance from the demolition object and thus even more safety.
“With the AB23 three-part demolition equipment, the 830 Demolition offers higher reach than previous models and work over projecting edges with the new articulated boom,” the company said.
Volvo makes e-hauler investment
Volvo Construction Equipment said it is investing into the future of its facility in Braås, Sweden, the home of its range of articulated haulers, as a signal of its commitment to lead the transformation across all products toward a more sustainable construction future. The company has announced its intention to invest SEK 360 million – approximately US$32.7million – into its production facility in Braås, Sweden between now and 2027.
The facility in Braås specializes in the design and manufacture of articulated haulers for the global market. It produced a fossil-free construction machine that was the first in the world to be delivered to a customer – an A30G which is now in use on customer NCC’s worksite.
The decision to invest in Braås was made by AB Volvo’s board of directors and means that the factory will be adapted over the coming years to enable it to produce a larger range of articulated haulers with different types of powertrains to reflect the shift in demand towards equipment with more sustainable power sources.
The investment will be used to extend production capacity at the 45,000 m² site in southern Sweden to broaden the product range going forwards, with the addition of new buildings and production equipment. Volvo CE will also invest in automation and ergonomics to both reduce the need for employees to engage in repetitive tasks and create a safer work environment.
Volvo CE said that pioneering manufacturing techniques is nothing new for Braås. Since producing the world’s first series manufactured articulated hauler, the “Gravel Charlie”, a 10-ton hauler in 1966, the facility has been at the forefront of innovation. As well as constructing the world’s first articulated hauler made from fossil-free steel, the site was instrumental in the building of the world’s first prototype articulated hauler powered by hydrogen fuel cells – the concept Volvo HX04 – which is currently the focus of testing to develop future hydrogen solutions.
Braås is also leading the way in environmental protection and was the first in the construction industry to achieve a carbon neutral operation powered entirely by renewable energy. In 2018, the site also became a zero-landfill facility.
“The transport and construction industry is undergoing a transformation with, among other things, an increasing number of electrified vehicles,” said Jonas Lakhall, site manager at Volvo CE in Braås. “This investment will enable us to adapt and extend our production facility so that we can offer a broader range of machines – with different powertrains – to our customers and help them meet their emission reduction ambitions.”
Tobroco-Giant’s new equipment at Bauma
At the Tobroco Giant exhibition stand at Bauma 2022, the company showcased its new electric offering, a first glimpse of its new tracked skid steer and its new compaction range. It is part of a series designed to transport heavy loads, such as a complete pallet of paving stones, and is suitable for heavier work due to heavy duty attachments.
“Electric machines are doing very well in our home market of Holland,” Teun Van Dal, Account Manager – Attachments – Tobroco Giant, tells IRN.
“This is because it is now a matter of law, which means that the government has rolled out charging infrastructure for these machines. “They are also selling well in Germany, the Nordics and increasingly North America. Many are sold to rental companies as well as contractors. We also have dealerships that in turn sell to rental. Meanwhile, Tobroco-Giant recently announced plans to offer its wheeled skid steer range on tracks – turning it into a compact tracked loader – in 2023. This series, including the SK252D skid steer, is on show on the Bauma stand.
The alteration to the skid steer range was a direct result of customer requests for tracks to enable better stability on uneven terrain. The lineup is also to include all-electric options.
Tobroco’s Bauma stand also featured its new range of compaction machines, launched earlier this year following the rebranding of SAMAC vibratory plates and rammers after Tobroco’s acquisition last year of fellow Dutch company ULBO Machinery, which owned the SAMAC brand. With a selection of machines on display, including two new electric models, the complete 60-strong range includes a roller vibrator, reversible plates in the 180 to 485kg range and eleven single direction plates weighing between 51 and 180kg.
Van Dal told IRN the company was continuing to grow despite economic headwinds, and had recently completed an expanded manufacturing facility for attachments in Hungary – the company has bought a site that is scalable for future expansion, having previously leased its site in Hungary.
Magni expands telehandler range
Magni unveiled its new telehandler models available for 2023 deliveries, at the Bauma construction trade show in Munich, Germany.
The models include two new additions to the company’s TH range; the TH 4,5.15 and the TH 4,5.19, and the RTH 10.37.
Key features of the Magni RTH 10.37 telehandler include a maximum lifting height of 36.7m (120ft) and a reach of 30.5m (100ft). It is also fitted with a Stage V-compliant, 175kW engine from Volvo. While the rotating machine offers a lifting capacity of 10.3 tonnes, both the the TH 4,5.15 and the TH 4,5.19 have maximum lifting capacities of 4.5 tonnes.
With a lifting height of 15m and 19m, respectively, the TH 4,5.15 and the TH 4,5.19 telehandlers are available in two Deutz engines versions of 55kW and 75kW.
These new TH models, designed for construction and light industry are engineered to ensure maximum performance.
The cab has a large windscreen that extends from the operator’s head to their feet, to ensure full visibility of the load both when suspended and completely lowered.
Fully pressurised and equipped with a filtration system, the cab allows the operator to work safely even in polluted or contaminated environments. Moreover, the models featuring the 75kW engine are equipped with a heating and air conditioning system to ensure maximum comfort and the cab is designed against the risk of roll-over thanks to an upper grill guard. There is an adjustable steering column and seven-inch touch screen. Every model is equipped with 4-wheel drive and steering to ensure maximum stability.
According to Magni, this allows for maximum freedom of movement and three types of steering: round steering, front steering and crab steering, along with super low design for entering low height openings.
Extreme Crane expand fleet
USA-based Extreme Crane & Rigging has added a new 400 tonne Liebherr LR 1400 SX crawler crane to its fleet. This latest addition follows Mollitiam Holdings’ recent strategic investment in the company, acquiring a majority ownership stake. “With the addition of the LR 1400, we have now added five new cranes to our fleet during the past 12 months and have almost doubled our total lifting capacity,” said Chris Burke, general manager of Extreme Crane & Rigging. “The decision to make this significant investment reflects our commitment to our customers to provide a complete solution to their lifting needs. With the addition of our new investor group, we plan to make additional fleet investments in 2023 as we continue to pursue our goal of becoming a leading provider of crane and rigging services in the Mid-Atlantic region of the United States.” Extreme Crane, founded by Kevin Rodney in 2014.
LGMG expands vertical mast range
LGMG has revealed two new zero-emission vertical masts, debuting the models to the European construction industry at Bauma event in Germany. The company’s M0810JE and M0407TE models, which offer platform heights of 8m and 3.7m respectively, are described as being eco-friendly and are equipped with electric drives that are said to provide “longer working hours” than comparable machines. Speaking of the new models, LGMG said, “The unique design of the vertical mast means that compared to scissors, it has more advantages in operational convenience and will be very competitive in the market in the future.” The M0810JE, which has an ‘up and over’ 3.2m jib with a horizontal outreach of 3.2m, offers a width of just 1m and a stowed length of 2.6m for easy transport. The vertical mast has a platform capacity of 200kg and is suitable for use both indoors and outside. According to LGMG, the model is highly manoeuvrable in tight spaces both indoors and outside, and is easy to operate. Compared to the M0810JE, the M0407TE has been designed for low working heights and offers a platform height of 3.7m. The model incorporates a narrow chassis that gives it a width of 0.76m, with a length of 1.36m and a height a 1.69m that enables it fit through doorways and to be easily transported.
New architecture future proofs large John Deere engines
The new engine architecture includes an overhead cam configuration that provides the flexibility to introduce alternative fuel technologies in future. Bauma 2022 provided a forum for John Deere Power Systems (JDPS) to highlight advanced power system technologies, with particular focus on a new engine architecture intended to “future proof” its large engines. The first engines based on this architecture are the JD14 and the JD18, both of which were on display during the event. Like many engine suppliers, JDPS has expressed a commitment to maintaining peak engine performance while offering sustainable fuel solutions that integrate alternative fuel technologies. Its next-generation engine architecture positions the company further along this path.
“What’s new about the architecture is it’s future proofing our large engines in two ways. Number one, we now have rear geartrains, so it gives them much more flexibility for auxiliary power on the equipment that they’re situated in,” Nick Block, director, sales and marketing, JDPS, explained. “A second key thing is they have overhead cams. [The overhead cam] gives us better fuel economy, which is really important for lowering carbon. The other thing it allows for is the flexibility to introduce alternative fuels to diesel over time.”
The 13.8L JD14 six-cylinder inline, four-stroke, water-cooled engine has a reduced footprint that allows more space and easier integration compared to its predecessor. It has power ratings from 402 to 684 hp at 2100 rpm and rated torque of 2250 lb.-ft. The engine meets Tier 4 Final/Stage V utilizing JDPS’ inline integrated emissions control system with external cooled EGR. The JD18 builds upon the JD14 while delivering a higher power output. It is rated 700 to 907 hp at 1900 rpm and supplies 3135 lb.-ft. of peak torque. Its rear geartrain produces increased direct power with the option of one or two rear aux drives for a total 665 lb.-ft. maximum torque.
Both engines incorporate an electronic high-pressure common rail fuel system and air-to-air aftercooled turbocharging. For even greater performance, the JD18 offers in-series turbocharging with a single or dual turbo. “At peak torque, there is about 3135 ft.-lb., so it really gives us that lugging capability for a lot of the applications it gets into,” Block said. While particularly suited for construction and agriculture, the engines are can be used in or other applications requiring higher power and torque, such as large pumps and marine applications. “They’re going to be [in applications] at the higher power level where it will be difficult to electrify, so a fuel-based engine is still going to be required,” said Block. “In many cases, diesel would be the prevalent fuel source.”
Alternative fuel capability
Both the JD14 and JD18 are capable of burning hydrogenated vegetable oil (HVO) and biodiesel up to B20 as a direct replacement for diesel. The intent is to move into other sustainable fuel options and technologies in future utilizing their next-generation engine architecture. “Because of the location of the cam, now you can access it to be able to add that technology later, plus spark ignition will be a key technology that you can add,” Block noted. “When the cam is not easily accessible, it’s more difficult to [implement] those alternative fuel technologies.”
JDPS has chosen to concentrate initially on liquid alternatives to diesel, but is investigating gaseous options, including hydrogen, as well. “If you add spark ignition to it, then you can start to look at other fuels like methanol, biomethane, etc.,” said Block. “So, there’s another host of alternative fuels that spark ignition can help address. And that’s technology we can layer on top of this.
“Our intent and our strategy is by 2026 to have the technologies defined that give us that flexibility for sustainable carbon reducing technologies for combustion engines. They maybe won’t all have the same approach, but they’re all going to have an approach that allows CO2 [emissions] to be reduced.”
Triton issues Rs.8,060 crore LoI to Bharat Electronics for purchase of battery packs for e-trucks
Triton Electric Vehicle India Pvt Ltd, a part of Triton Electric Vehicle LLC, USA, has issued a Letter of Intent (Lol) to Navratna Defence PSU Bharat Electronics Limited (BEL) for procurement of 300 KW Li-Ion Battery Packs for its Semi-truck project in India at an estimated value of Rs.8060 crore. As per the filing, the battery packs are to be delivered by BEL to Triton in 24 months commencing from January 2023. The Purchase Order for first-off quantity with hundred percent advance payment has been handed over to BEL by Triton. BEL will deliver the first-off quantity by November 2022. The battery packs will be manufactured at Pune unit of BEL. BEL has also signed an MoU with Triton Electric Vehicle (TEV), for manufacture of Hydrogen Fuel cells by BEL with technology transfer from TEV, to meet the requirements of Indian market and mutually agreed export markets. The MoU aims at tapping the demand for clean energy solutions for various applications including for E- Mobility, by leveraging Government of India,s thrust for adoption of clean energy fuels for applications in transport, energy storage etc.
Escorts Kubota tractor volume jumps 7.2% in October 2022
Escorts Kubota Limited Agri Machinery Segment in October 2022 sold 14,492 tractors which is the ever highest monthly sales registering a growth of 7.2% as against 13,514 tractors sold in October 2021. As per the regulatory filing, Domestic tractor sales in October 2022 was at 13,843 tractors registering a growth of 8.6 percent as against 12,749 tractors sold in October 2021. Festive demand was good led by above normal monsoon and higher water reservoirs level. For the coming Rabi season all macro-economic factors remain favourable for the industry. However, overhang of unabsorbed commodities inflation remains a concern.Export tractor sales in October 2022 was at 649 tractors as against 765 tractors sold in October 2021.