Force Motors to Exit Tractor Business, Focuses on Sharpening Other Sectors

Force Motors, an Indian multinational automotive manufacturer headquartered in Pune, is known for its comprehensive expertise in designing, developing, and producing automotive components, assemblies, and vehicles.

The company's forte lies in delivering top-notch products through advanced design, cutting-edge engineering, modern manufacturing processes, and innovative marketing strategies.

Recently, Force Motors Ltd made a strategic decision to withdraw from the tractor business, which includes the manufacturing and trading of agricultural tractors, effective from March 31, 2024. This move is part of the company's plan to streamline its product offerings and focus on its core areas of expertise.

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The company will focus on other sectors that includes shared mobility transportation, last mile mobility solutions, goods transportation, manufacturing high-tech critical components for OEMs (Original Equipment Manufacturers), and crafting specialized vehicles for both civil and defense purposes.

According to information disclosed in a stock exchange filing, the revenue generated from the sale of agricultural tractors by Force Motors amounted to ₹182.53 crore for the fiscal year ending March 31, 2023. This represented approximately 3.66% of the company's total revenue for the same period.

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Additionally, the net block of assets related to the tractor business unit stood at ₹12.29 crore as of March 31, 2023. The company aims to reinforce its competitive edge in the evolving automotive terrain. This move highlights the company’s adaptability and resilience in the dynamic market environment. The company remains financially strong and is confident this strategic shift will lead to future success.

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