The companies have agreed to discuss jointly developing products to stabilize food production in Japan.

Rajesh Jejurikar, executive director of Mahindra & Mahindra and chairman of Mitsubishi Mahindra Agricultural Machinery Co. Ltd. said this: “We are very pleased with the announcement of the business collaboration for the Japanese market which will include a broad range of collaborative efforts including but not limited to expanding the mutual OEM supply arrangements, joint utilization of IoT (Internet of Things) and other sophisticated technology solutions, and exploring opportunities for collaborating in product development for Japan.”

According to the companies, the Japanese farming population is aging and shrinking, which is driving a shift to large-scale operations. This trend is leading to increasing customer needs for savings on labor and operations as well as sophisticated technologies such as autonomous and IoT solutions.

Source: CarandBike.com

Ford announced the companies’ decision to scrap the joint venture after a Dec. 31 deadline in the definitive agreement passed without resolution.

Changing economic and business conditions over the past 15 months, including those brought on by the pandemic, drove the decision by the two companies, the announcement said.

Ford’s independent operations in India will continue while the company evaluates its businesses around the world in its pursuit of a stronger bottom line, it said.

Source: Industry Week

Domestic tractor sales in November were down 18.9 percent to 20,414 units vs. 25,159 units in the same month last year.

Exports shrunk 21.7 percent to 618 units in November.

Source: Farm Equipment