When asked about expanding operations, Mahindra USA president and CEO Mani Iyer said, “It makes sense down the line to have a factory in the U.S.” The company will move to the bigger segment of tractors — up to 160 hp — with the setting up of the new facility, he added.
“We already have invested a lot, whether in brand, technology, distribution points, dealers and people. The number of products being made for the U.S. market alone is very high. It will call for more localization,” Iyer said.
BusinessLine reports that with a revenue of $600 million annually, the company is a major player in tractors ranging up to 120 hp. It is third in terms of market share in the segment, just behind Kubota and John Deere.
Mahindra USA has about 2,500 employees of whom over 99 percent are Americans. “Today, we are considered very local. We are an American company headquartered in India,” Iyer quipped.
