CNH Industrial announced Nov. 8 its intention to expand its partnership with LS Tractor. The Memorandum of Understanding and the technical cooperation agreement signed aim at expanding the current cooperation between the 2 companies and deliver an extended product offering to capture greater market share and enhance CNH Industrial's positioning in the compact tractor segment.
This expanded agreement sets forth the financial and industrial terms and conditions to localize the production of select compact tractor models at the CNH manufacturing site in Greater Noida, India and the LS Tractor manufacturing site in South Korea.
LS Tractor is the existing commercial distributor for CNH’s New Holland Agriculture brand in South Korea.
According to a Dec. 5, 2022, article from The Korea Economic Daily, LS Mtron secured a contract to supply CNH Industrial with 28,500 tractors over the next 3 years. The report said the tractors will mostly be for the North American and European markets. LS Mtron has supplied CNH Industrial with under 60 horsepower tractors since 2009.
