Homegrown tractor manufacturer Sonalika International Tractors is planning to double its sales in the next five years. It has sold 100,000 units in fiscal 2018.
To meet the target and future emission rules, the company has planned an investment of Rs 450 crore in the next two years. Out of this, Rs 250 crore will be invested in tooling and dies for new components such as sheet metal parts, plastic parts, and housings.
Remaining Rs 200 crore will go into developing a new R&D center and emission testing labs in the National Capital Region.
The executive director of Sonalika Tractors, Raman Mittal said “We are creating a new R&D (center) in Noida. We are in a phase where we are using our current resources”.
In the first quarter of fiscal 2019, it recorded the highest overall sales of 30,000 units.