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New Delhi, Oct 5 (UNI) Mahindra and Mahindra (M&M) will invest Rs 400 crore in the next two and a half years for the development of product, capacity expansion and setting up of greenfield plant, the company said while launching its 23.5 hp tractor, 'Shaan' here today.

Targeting small and medium farmers, the company has set an on road price of Rs 2.95 lakh for the new tractor.

''This product will delight the farmers with its multi-functional capabilities on the farm and off it. It is crafted in a manner to satisfy the requirements along with the sensitivities and lifestyle demands of the new generation of customers across rural India,'' M&M President (Farm Equipment Sector) Anjanikumar Chaudhari told reporters.

The tractor has a small turning radius of 3.2 metres which can allow quick manoeuvers during field operations at a maximum speed of 39.5 Kmph, an in-built trolley which can carry weight up to 750 kg, can result in more earnings per day.

It has a stylish driver's cabin, ergonomically designed sporty bodyline, attractive decals, unique windscreen with wipers, robust front grill, aesthetically designed integrated backlit instrument console.

''Shaan was designed and conceived for young and progressive farmers who wanted a stylish tractor which can help them earn, both in farm and during haulage,'' Mr Chaudhari added.

M&M Executive Vice President (Farm Equipment Sector) Gautam Nagwekar said, ''The performance of the product has been enhanced to fit into the dual role it was designed for.'' Its unique features will help the company in tapping some of the yet largely untapped territories in India, he added.

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