CNH Industrial, one of the world’s big players in industrial vehicle making, intends to invest more in India in spite of the slow economic growth that India market has shown recently. The company CEO Hubertus M. Muhlhauser expressed his intention to invest in the field of lower horsepower products over the next 5 years.
“India is a very important and strategic market for CNH Industrial not only as end-user but also as a manufacturing hub. Strategically, our facilities are placed in India. We are looking to invest more particularly in lower horse power products,” told the CEO of the Netherlands-registered company. He was talking to reporters on the eve of the company’s five-year plans.
He also revealed that CNH will invest 13 billion dollars globally in the next half decade, although he didn’t made public the company’s investment plan country wise.
Talking about the Sino-US trade war, he said it is of course not good for the global economy. In order to better our business in North America and Europe, we need to find a solution to this tariff war.
“The company is aiming to double its market share by the year 2014,” said Derek Neilson, President of CHH’s agriculture division.
The construction division president Carl Gustaf Goransson disclosed the company’s plan to launch Crawler Escavator, construction equipment vehicle next year in India. It will begin local production by the second quarter of 2020. He also mentioned that the company will work on improving vendor base ecosystem in India.
Currently, CNH Industrial has three manufacturing units across India- CASE and COMPACTOR unit in Pithampur (Madhya Pradesh) and other two for are in Greater Noida (Uttar Pradesh) and Pune (Maharashtra) for New Holland tractors and harvesters. The company is India’s number one seller of compactor used in road construction and comes second in terms of selling backhoe loader.