New Delhi, May 14
Sonalika International Tractors Ltd (ITL) plans to enter the Chinese market this year as it looks to expand market to double overall sales to 2 lakh units annually in the next five years, a top company official said.
The company, which crossed one lakh units sales milestone in 2017-18, is looking at assembling its tractors in China with localisation of certain contents through a local partner. “We are in the phase of fixing our localisation plant, and fixing how the business will work...Towards the end of this year we should see a physical start in China,” Sonalika ITL Executive Director Raman Mittal said.
When asked about the local partner, he declined to comment and said it would be announced at an appropriate time when the company is fully ready with its plans for the Chinese market. — PTI
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