Force Motors to shut down its agricultural tractors business

Force Motors to shut down its agricultural tractors business

Daily Current Affairs   /   Force Motors to shut down its agricultural tractors business

Change Language English Hindi

Category : Business and economics Published on: April 02 2024

Share on facebook
  • Force Motors has announced the closure of its agricultural tractor business and related activities effective from March 31 as part of its product rationalization program.
  • The decision is aligned with the company's strategy to focus primarily on core segments such as shared mobility transportation, last-mile mobility, and manufacturing of high-technology critical aggregates for luxury OEMs, among others.
  • Despite contributing 3.66% to the company's total revenue for the financial year ended March 31, 2023, the sale of agricultural tractors has been discontinued due to the challenging market conditions, with tractor sales witnessing pressure in the industry.
Recent Post's
  • Prime Minister Narendra Modi chaired the 45th edition of PRAGATI to review key projects worth over Rs 1 lakh crore.

    Read More....
  • The RBI has set up a panel to develop a framework for the ethical use of AI in the financial sector.

    Read More....
  • Indian Railways has placed a Rs 978.61 crore order for installing armour systems on 1,200 locomotives.

    Read More....
  • On Christmas Eve 2024, President Joe Biden signed a law officially declaring the Bald Eagle as the national bird of the United States.

    Read More....
  • Rashtriya Ispat Nigam Limited (RINL) won the Gold Award at the AP State Energy Conservation Award 2024 for its excellence in energy conservation in the iron and steel sector.

    Read More....
  • China has approved the construction of the world's largest dam on the Brahmaputra River in Tibet, near the Indian border. The project, costing USD 137 billion, is set to be the largest infrastructure project globally.

    Read More....
  • BPCL (Bharat Petroleum Corporation Limited) plans to invest $11 billion in a new refinery project in southern Andhra Pradesh.

    Read More....
  • Olympians Maheshwari and Anantjeet won the National Skeet Mixed Team title for Rajasthan, showcasing their exceptional skill and teamwork in the competition.

    Read More....
  • Vijayveer Sidhu won the men's 25m rapid fire pistol title at the 67th National Championships, marking a significant achievement in his shooting career.

    Read More....
  • Union Home Minister and Minister of Cooperation Shri Amit Shah chaired a review meeting of Bhartiya Beej Sahkari Samiti Limited (BBSSL) in New Delhi.

    Read More....